Which stocks are most correlated with HGLB?

Based on one year of daily returns, the stocks most correlated with Highland Global Allocation Fund (HGLB) are BFLB (0.49), PCEF (0.48) and PMMR (0.46). 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 HGLB?

Over the past year, the stocks most inversely correlated with Highland Global Allocation Fund (HGLB) are SPXS (-0.43), SPXU (-0.43) and SDS (-0.43). A negative correlation means the two stocks have tended to move in opposite directions.

Highland Global Allocation Fund (HGLB) — Stock Correlations & Overview

Over the past year, HGLB has moved most closely with BFLB, PCEF, PMMR. Explore the stocks most correlated and inversely correlated with HGLB below, along with its price, financials, and company profile.

Stocks correlated with HGLB

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

Most correlated with HGLB

Symbol	Company	Correlation
BFLB	BufferLABS US Equity Dynamic Buffer ETF	0.49
PCEF	Invesco CEF Income Composite ETFINVESTMENT ADVICE	0.48
PMMR	PGIM S&P 500 Max Buffer ETF - March	0.46
ETG	Eaton Vance Tax-Advantaged Global Dividend Income Fund	0.46
FCEF	First Trust Exchange-Traded Fund VIII First Trust Income Opportunities ETF	0.46

Most inversely correlated with HGLB

Symbol	Company	Correlation
SPXS	Direxion Daily S&P 500 Bear 3x ETF	-0.43
SPXU	ProShares UltraPro Short S&P 500	-0.43
SDS	ProShares UltraShort S&P500	-0.43
SH	ProShares Short S&P500	-0.42
SPDN	Direxion Daily S&P 500 Bear 1X ETF	-0.42

Frequently asked questions about HGLB correlations

Which stocks are most correlated with HGLB?: Based on one year of daily returns, the stocks most correlated with Highland Global Allocation Fund (HGLB) are BFLB (0.49), PCEF (0.48) and PMMR (0.46). 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 HGLB?: Over the past year, the stocks most inversely correlated with Highland Global Allocation Fund (HGLB) are SPXS (-0.43), SPXU (-0.43) and SDS (-0.43). 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 HGLB correlations calculated?: We compute the correlation of daily returns between HGLB 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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