VanEck Natural Resources ETF (HAP) — Stock Correlations & Overview
Over the past year, HAP has moved most closely with GNR, GUNR, NRES. Explore the stocks most correlated and inversely correlated with HAP below, along with its price, financials, and company profile.
Stocks correlated with HAP
Correlation of daily returns. Higher positive values move with HAP; negative values move opposite it. Informational only, not investment advice.
Most correlated with HAP
| Symbol | Company | Correlation |
|---|---|---|
| GNR | State Street SPDR S&P Global Natural Resources ETF | 0.95 |
| GUNR | Northern Trust Morningstar Global Upstream Natural Resources ETF | 0.94 |
| NRES | Xtrackers RREEF Global Natural Resources ETF | 0.94 |
| CSNR | Cohen & Steers Natural Resources Active ETF | 0.93 |
| TURF | T. Rowe Price Natural Resource ETF | 0.93 |
Most inversely correlated with HAP
| Symbol | Company | Correlation |
|---|---|---|
| DUST | Direxion Daily Gold Miners Index Bear 2X ETF | -0.73 |
| GDXD | MicroSectors Gold Miners -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.72 |
| JDST | Direxion Daily Junior Gold Miners Index Bear 2X ETF | -0.72 |
| ZSL | ProShares UltraShort SilverCOMMODITY CONTRACTS BROKERS & DEALERS | -0.70 |
| GLL | ProShares UltraShort GoldCOMMODITY CONTRACTS BROKERS & DEALERS | -0.67 |
Frequently asked questions about HAP correlations
- Which stocks are most correlated with HAP?
- Based on one year of daily returns, the stocks most correlated with VanEck Natural Resources ETF (HAP) are GNR (0.95), GUNR (0.94) and NRES (0.94). 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 HAP?
- Over the past year, the stocks most inversely correlated with VanEck Natural Resources ETF (HAP) are DUST (-0.73), GDXD (-0.72) and JDST (-0.72). 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 HAP correlations calculated?
- We compute the correlation of daily returns between HAP 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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