Unlimited HFGM Global Macro ETF (HFGM) — Stock Correlations & Overview
Over the past year, HFGM has moved most closely with HFMF, HFND, RAA. Explore the stocks most correlated and inversely correlated with HFGM below, along with its price, financials, and company profile.
Stocks correlated with HFGM
Correlation of daily returns. Higher positive values move with HFGM; negative values move opposite it. Informational only, not investment advice.
Most correlated with HFGM
| Symbol | Company | Correlation |
|---|---|---|
| HFMF | Unlimited HFMF Managed Futures ETF | 0.82 |
| HFND | Unlimited HFND Multi-Strategy Return Tracker ETF | 0.79 |
| RAA | SMI 3Fourteen REAL Asset Allocation ETF | 0.76 |
| HFEQ | Unlimited HFEQ Equity Long/Short ETF | 0.76 |
| PRAE | PlanRock Alternative Growth ETF | 0.74 |
Most inversely correlated with HFGM
| Symbol | Company | Correlation |
|---|---|---|
| ZSL | ProShares UltraShort SilverCOMMODITY CONTRACTS BROKERS & DEALERS | -0.59 |
| GLL | ProShares UltraShort GoldCOMMODITY CONTRACTS BROKERS & DEALERS | -0.58 |
| DULL | MicroSectors Gold -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.57 |
| EDZ | Direxion Daily MSCI Emerging Markets Bear 3X ETF | -0.57 |
| JDST | Direxion Daily Junior Gold Miners Index Bear 2X ETF | -0.56 |
Frequently asked questions about HFGM correlations
- Which stocks are most correlated with HFGM?
- Based on one year of daily returns, the stocks most correlated with Unlimited HFGM Global Macro ETF (HFGM) are HFMF (0.82), HFND (0.79) and RAA (0.76). 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 HFGM?
- Over the past year, the stocks most inversely correlated with Unlimited HFGM Global Macro ETF (HFGM) are ZSL (-0.59), GLL (-0.58) and DULL (-0.57). 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 HFGM correlations calculated?
- We compute the correlation of daily returns between HFGM 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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