Which stocks are most correlated with HFND?

Based on one year of daily returns, the stocks most correlated with Unlimited HFND Multi-Strategy Return Tracker ETF (HFND) are HFEQ (0.86), JULZ (0.79) and HFGM (0.79). 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 HFND?

Over the past year, the stocks most inversely correlated with Unlimited HFND Multi-Strategy Return Tracker ETF (HFND) are EDZ (-0.71), EUM (-0.69) and EEV (-0.69). A negative correlation means the two stocks have tended to move in opposite directions.

Unlimited HFND Multi-Strategy Return Tracker ETF (HFND) — Stock Correlations & Overview

Over the past year, HFND has moved most closely with HFEQ, JULZ, HFGM. Explore the stocks most correlated and inversely correlated with HFND below, along with its price, financials, and company profile.

Stocks correlated with HFND

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

Most correlated with HFND

Symbol	Company	Correlation
HFEQ	Unlimited HFEQ Equity Long/Short ETF	0.86
JULZ	TrueShares Structured Outcome (July) ETF	0.79
HFGM	Unlimited HFGM Global Macro ETF	0.79
WLTG	WealthTrust DBS Long Term Growth ETF	0.79
RAA	SMI 3Fourteen REAL Asset Allocation ETF	0.79

Most inversely correlated with HFND

Symbol	Company	Correlation
EDZ	Direxion Daily MSCI Emerging Markets Bear 3X ETF	-0.71
EUM	ProShares Trust Short MSCI Emerging Markets	-0.69
EEV	ProShares Trust UltraShort MSCI Emerging Markets	-0.69
HIBS	Direxion Daily S&P 500 High Beta Bear 3X ETF	-0.67
SPXS	Direxion Daily S&P 500 Bear 3x ETF	-0.67

Frequently asked questions about HFND correlations

Which stocks are most correlated with HFND?: Based on one year of daily returns, the stocks most correlated with Unlimited HFND Multi-Strategy Return Tracker ETF (HFND) are HFEQ (0.86), JULZ (0.79) and HFGM (0.79). 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 HFND?: Over the past year, the stocks most inversely correlated with Unlimited HFND Multi-Strategy Return Tracker ETF (HFND) are EDZ (-0.71), EUM (-0.69) and EEV (-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 HFND correlations calculated?: We compute the correlation of daily returns between HFND 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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