Simplify Commodities Strategy No K-1 ETF (HARD) — Stock Correlations & Overview
Over the past year, HARD has moved most closely with CTA, DCMT, GSG. Explore the stocks most correlated and inversely correlated with HARD below, along with its price, financials, and company profile.
Stocks correlated with HARD
Correlation of daily returns. Higher positive values move with HARD; negative values move opposite it. Informational only, not investment advice.
Most correlated with HARD
| Symbol | Company | Correlation |
|---|---|---|
| CTA | Simplify Managed Futures Strategy ETFPLASTIC MATERIAL, SYNTH RESIN/RUBBER, CELLULOS (NO GLASS) | 0.92 |
| DCMT | DoubleLine Commodity Strategy ETF | 0.83 |
| GSG | iShares S&P GSCI Commodity-Indexed TrustCOMMODITY CONTRACTS BROKERS & DEALERS | 0.83 |
| DJP | iPath Bloomberg Commodity Index Total Return ETN due June 12, 2036 | 0.81 |
| DBC | Invesco DB Commodity Index Tracking FundCOMMODITY CONTRACTS BROKERS & DEALERS | 0.80 |
Most inversely correlated with HARD
| Symbol | Company | Correlation |
|---|---|---|
| SCO | ProShares UltraShort Bloomberg Crude OilCOMMODITY CONTRACTS BROKERS & DEALERS | -0.67 |
| NRGD | MicroSectors U.S. Big Oil -3x Inverse Leveraged ETNs due February 17, 2045COMMERCIAL BANKS, NEC | -0.54 |
| DRIP | Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF | -0.54 |
| WTID | MicroSectors Energy -3x Inverse Leveraged ETNsCOMMERCIAL BANKS, NEC | -0.53 |
| OILD | MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.50 |
Frequently asked questions about HARD correlations
- Which stocks are most correlated with HARD?
- Based on one year of daily returns, the stocks most correlated with Simplify Commodities Strategy No K-1 ETF (HARD) are CTA (0.92), DCMT (0.83) and GSG (0.83). 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 HARD?
- Over the past year, the stocks most inversely correlated with Simplify Commodities Strategy No K-1 ETF (HARD) are SCO (-0.67), NRGD (-0.54) and DRIP (-0.54). 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 HARD correlations calculated?
- We compute the correlation of daily returns between HARD 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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