iShares S&P GSCI Commodity-Indexed Trust (GSG) — Stock Correlations & Overview
Over the past year, GSG has moved most closely with USO, DBC, BNO. Explore the stocks most correlated and inversely correlated with GSG below, along with its price, financials, and company profile.
Stocks correlated with GSG
Correlation of daily returns. Higher positive values move with GSG; negative values move opposite it. Informational only, not investment advice.
Most correlated with GSG
| Symbol | Company | Correlation |
|---|---|---|
| USO | United States Oil Fund, LPCOMMODITY CONTRACTS BROKERS & DEALERS | 0.95 |
| DBC | Invesco DB Commodity Index Tracking FundCOMMODITY CONTRACTS BROKERS & DEALERS | 0.95 |
| BNO | United States Brent Oil Fund, LPCOMMODITY CONTRACTS BROKERS & DEALERS | 0.95 |
| DCMT | DoubleLine Commodity Strategy ETF | 0.95 |
| PDBC | Invesco Actively Managed Exch-Traded Commodity Fd Tr Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 0.94 |
Most inversely correlated with GSG
| Symbol | Company | Correlation |
|---|---|---|
| SCO | ProShares UltraShort Bloomberg Crude OilCOMMODITY CONTRACTS BROKERS & DEALERS | -0.89 |
| DRIP | Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF | -0.70 |
| NRGD | MicroSectors U.S. Big Oil -3x Inverse Leveraged ETNs due February 17, 2045COMMERCIAL BANKS, NEC | -0.69 |
| WTID | MicroSectors Energy -3x Inverse Leveraged ETNsCOMMERCIAL BANKS, NEC | -0.68 |
| OILD | MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.64 |
Frequently asked questions about GSG correlations
- Which stocks are most correlated with GSG?
- Based on one year of daily returns, the stocks most correlated with iShares S&P GSCI Commodity-Indexed Trust (GSG) are USO (0.95), DBC (0.95) and BNO (0.95). 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 GSG?
- Over the past year, the stocks most inversely correlated with iShares S&P GSCI Commodity-Indexed Trust (GSG) are SCO (-0.89), DRIP (-0.70) and NRGD (-0.69). 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 GSG correlations calculated?
- We compute the correlation of daily returns between GSG 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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