Which stocks are most correlated with HIBL?

Based on one year of daily returns, the stocks most correlated with Direxion Daily S&P 500 High Beta Bull 3X ETF (HIBL) are SPHB (1.00), JMOM (0.94) and FTC (0.94). 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 HIBL?

Over the past year, the stocks most inversely correlated with Direxion Daily S&P 500 High Beta Bull 3X ETF (HIBL) are HIBS (-0.99), QID (-0.90) and SQQQ (-0.90). A negative correlation means the two stocks have tended to move in opposite directions.

Direxion Daily S&P 500 High Beta Bull 3X ETF (HIBL) — Stock Correlations & Overview

Over the past year, HIBL has moved most closely with SPHB, JMOM, FTC. Explore the stocks most correlated and inversely correlated with HIBL below, along with its price, financials, and company profile.

Stocks correlated with HIBL

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

Most correlated with HIBL

Symbol	Company	Correlation
SPHB	Invesco S&P 500 High Beta ETFINVESTMENT ADVICE	1.00
JMOM	JPMorgan U.S. Momentum Factor ETF	0.94
FTC	First Trust Large Cap Growth AlphaDEX Fund (based on the Defined Large Cap Growth Index--symbol DEFILGOI)	0.94
FAD	First Trust Multi Cap Growth AlphaDEX Fund	0.94
SECT	Main Sector Rotation ETF	0.93

Most inversely correlated with HIBL

Symbol	Company	Correlation
HIBS	Direxion Daily S&P 500 High Beta Bear 3X ETF	-0.99
QID	ProShares UltraShort QQQ	-0.90
SQQQ	ProShares UltraPro Short QQQ	-0.90
PSQ	ProShares Short QQQ	-0.90
REW	Proshares UltraShort Technology	-0.89

Frequently asked questions about HIBL correlations

Which stocks are most correlated with HIBL?: Based on one year of daily returns, the stocks most correlated with Direxion Daily S&P 500 High Beta Bull 3X ETF (HIBL) are SPHB (1.00), JMOM (0.94) and FTC (0.94). 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 HIBL?: Over the past year, the stocks most inversely correlated with Direxion Daily S&P 500 High Beta Bull 3X ETF (HIBL) are HIBS (-0.99), QID (-0.90) and SQQQ (-0.90). 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 HIBL correlations calculated?: We compute the correlation of daily returns between HIBL 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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