Which stocks are most correlated with HECA?

Based on one year of daily returns, the stocks most correlated with Hedgeye Capital Allocation ETF (HECA) are FARX (0.64), FDAT (0.63) and CCNR (0.62). 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 HECA?

Over the past year, the stocks most inversely correlated with Hedgeye Capital Allocation ETF (HECA) are RWM (-0.53), TWM (-0.53) and TZA (-0.52). A negative correlation means the two stocks have tended to move in opposite directions.

Hedgeye Capital Allocation ETF (HECA) — Stock Correlations & Overview

Over the past year, HECA has moved most closely with FARX, FDAT, CCNR. Explore the stocks most correlated and inversely correlated with HECA below, along with its price, financials, and company profile.

Stocks correlated with HECA

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

Most correlated with HECA

Symbol	Company	Correlation
FARX	Frontier Asset Absolute Return ETF	0.64
FDAT	Tactical Advantage ETF	0.63
CCNR	Financial Investors Trust ALPS/CoreCommodity Natural Resources ETF	0.62
MGNR	American Beacon GLG Natural Resources ETF	0.61
AHLT	American Beacon AHL Trend ETF	0.61

Most inversely correlated with HECA

Symbol	Company	Correlation
RWM	ProShares Short Russell2000	-0.53
TWM	ProShares UltraShort Russell2000	-0.53
TZA	Direxion Daily Small Cap Bear 3x ETF	-0.52
SRTY	ProShares UltraPro Short Russell2000	-0.52
SARK	Investment Managers Series Trust II Tradr 1X Short Innovation Daily ETF	-0.49

Frequently asked questions about HECA correlations

Which stocks are most correlated with HECA?: Based on one year of daily returns, the stocks most correlated with Hedgeye Capital Allocation ETF (HECA) are FARX (0.64), FDAT (0.63) and CCNR (0.62). 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 HECA?: Over the past year, the stocks most inversely correlated with Hedgeye Capital Allocation ETF (HECA) are RWM (-0.53), TWM (-0.53) and TZA (-0.52). 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 HECA correlations calculated?: We compute the correlation of daily returns between HECA 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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