New Horizon Aircraft Ltd. Warrant (HOVRW) — Stock Correlations & Overview
Over the past year, HOVRW has moved most closely with HOVR, KNOV, ABAT. Explore the stocks most correlated and inversely correlated with HOVRW below, along with its price, financials, and company profile.
Stocks correlated with HOVRW
Correlation of daily returns. Higher positive values move with HOVRW; negative values move opposite it. Informational only, not investment advice.
Most correlated with HOVRW
| Symbol | Company | Correlation |
|---|---|---|
| HOVR | New Horizon Aircraft Ltd. Class A Ordinary ShareAIRCRAFT | 0.60 |
| KNOV | Innovator U.S. Small Cap Power Buffer ETF - November | 0.45 |
| ABAT | American Battery Technology Company Common StockMINING & QUARRYING OF NONMETALLIC MINERALS (NO FUELS) | 0.44 |
| WQTM | WisdomTree Quantum Computing Fund | 0.44 |
| ARKQ | ARK Autonomous Technology & Robotics ETF | 0.43 |
Most inversely correlated with HOVRW
| Symbol | Company | Correlation |
|---|---|---|
| RGTZ | Defiance Daily Target 2x Short RGTI ETF | -0.40 |
| RWM | ProShares Short Russell2000 | -0.40 |
| SRTY | ProShares UltraPro Short Russell2000 | -0.39 |
| TWM | ProShares UltraShort Russell2000 | -0.39 |
| SARK | Investment Managers Series Trust II Tradr 1X Short Innovation Daily ETF | -0.39 |
Frequently asked questions about HOVRW correlations
- Which stocks are most correlated with HOVRW?
- Based on one year of daily returns, the stocks most correlated with New Horizon Aircraft Ltd. Warrant (HOVRW) are HOVR (0.60), KNOV (0.45) and ABAT (0.44). 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 HOVRW?
- Over the past year, the stocks most inversely correlated with New Horizon Aircraft Ltd. Warrant (HOVRW) are RGTZ (-0.40), RWM (-0.40) and SRTY (-0.39). 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 HOVRW correlations calculated?
- We compute the correlation of daily returns between HOVRW 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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