Gold Royalty Corp. (GROY) — Stock Correlations & Overview
Over the past year, GROY has moved most closely with GDXJ, JNUG, GOAU. Explore the stocks most correlated and inversely correlated with GROY below, along with its price, financials, and company profile.
Stocks correlated with GROY
Correlation of daily returns. Higher positive values move with GROY; negative values move opposite it. Informational only, not investment advice.
Most correlated with GROY
| Symbol | Company | Correlation |
|---|---|---|
| GDXJ | VanEck Junior Gold Miners ETF | 0.79 |
| JNUG | Direxion Daily Junior Gold Miners Index Bull 2X ETF | 0.79 |
| GOAU | US Global GO Gold and Precious Metal Miners ETF | 0.78 |
| SILJ | Amplify Junior Silver Miners ETF | 0.78 |
| GDX | VanEck Gold Miners ETF | 0.78 |
Most inversely correlated with GROY
| Symbol | Company | Correlation |
|---|---|---|
| JDST | Direxion Daily Junior Gold Miners Index Bear 2X ETF | -0.80 |
| GDXD | MicroSectors Gold Miners -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.78 |
| DUST | Direxion Daily Gold Miners Index Bear 2X ETF | -0.78 |
| DULL | MicroSectors Gold -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.67 |
| GLL | ProShares UltraShort GoldCOMMODITY CONTRACTS BROKERS & DEALERS | -0.67 |
Frequently asked questions about GROY correlations
- Which stocks are most correlated with GROY?
- Based on one year of daily returns, the stocks most correlated with Gold Royalty Corp. (GROY) are GDXJ (0.79), JNUG (0.79) and GOAU (0.78). 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 GROY?
- Over the past year, the stocks most inversely correlated with Gold Royalty Corp. (GROY) are JDST (-0.80), GDXD (-0.78) and DUST (-0.78). 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 GROY correlations calculated?
- We compute the correlation of daily returns between GROY 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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