Which stocks are most correlated with GOEX?

Based on one year of daily returns, the stocks most correlated with Global X Gold Explorers ETF (NEW) (GOEX) are JNUG (0.98), GDXJ (0.98) and GBUG (0.98). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.

Which stocks are inversely correlated with GOEX?

Over the past year, the stocks most inversely correlated with Global X Gold Explorers ETF (NEW) (GOEX) are JDST (-0.98), GDXD (-0.97) and DUST (-0.97). A negative correlation means the two stocks have tended to move in opposite directions.

Global X Gold Explorers ETF (NEW) (GOEX) — Stock Correlations & Overview

Over the past year, GOEX has moved most closely with JNUG, GDXJ, GBUG. Explore the stocks most correlated and inversely correlated with GOEX below, along with its price, financials, and company profile.

Stocks correlated with GOEX

Correlation of daily returns. Higher positive values move with GOEX; negative values move opposite it. Informational only, not investment advice.

Most correlated with GOEX

Symbol	Company	Correlation
JNUG	Direxion Daily Junior Gold Miners Index Bull 2X ETF	0.98
GDXJ	VanEck Junior Gold Miners ETF	0.98
GBUG	Sprott Active Gold & Silver Miners ETF	0.98
GDXU	MicroSectors Gold Miners 3x Leveraged ETNCOMMERCIAL BANKS, NEC	0.98
AUMI	Themes Gold Miners ETF	0.98

Most inversely correlated with GOEX

Symbol	Company	Correlation
JDST	Direxion Daily Junior Gold Miners Index Bear 2X ETF	-0.98
GDXD	MicroSectors Gold Miners -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC	-0.97
DUST	Direxion Daily Gold Miners Index Bear 2X ETF	-0.97
GLL	ProShares UltraShort GoldCOMMODITY CONTRACTS BROKERS & DEALERS	-0.86
DULL	MicroSectors Gold -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC	-0.86

Frequently asked questions about GOEX correlations

Which stocks are most correlated with GOEX?: Based on one year of daily returns, the stocks most correlated with Global X Gold Explorers ETF (NEW) (GOEX) are JNUG (0.98), GDXJ (0.98) and GBUG (0.98). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
Which stocks are inversely correlated with GOEX?: Over the past year, the stocks most inversely correlated with Global X Gold Explorers ETF (NEW) (GOEX) are JDST (-0.98), GDXD (-0.97) and DUST (-0.97). A negative correlation means the two stocks have tended to move in opposite directions.
What does a correlation of 0.8 mean for a stock?: Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
How are these GOEX correlations calculated?: We compute the correlation of daily returns between GOEX and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.

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