Which stocks are most correlated with HY?

Based on one year of daily returns, the stocks most correlated with Hyster-Yale, Inc. (HY) are PAVE (0.61), TSME (0.60) and PSCI (0.60). 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 HY?

Over the past year, the stocks most inversely correlated with Hyster-Yale, Inc. (HY) are SDD (-0.58), SBB (-0.58) and MZZ (-0.56). A negative correlation means the two stocks have tended to move in opposite directions.

Hyster-Yale, Inc. (HY) — Stock Correlations & Overview

Over the past year, HY has moved most closely with PAVE, TSME, PSCI. Explore the stocks most correlated and inversely correlated with HY below, along with its price, financials, and company profile.

Stocks correlated with HY

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

Most correlated with HY

Symbol	Company	Correlation
PAVE	Global X U.S. Infrastructure Development ETF	0.61
TSME	Thrivent Small-Mid Cap Equity ETF	0.60
PSCI	Invesco S&P SmallCap Industrials ETFINVESTMENT ADVICE	0.60
QVMS	Invesco S&P SmallCap 600 QVM Multi-factor ETFINVESTMENT ADVICE	0.60
AFSC	abrdn Focused U.S. Small Cap Active ETF	0.59

Most inversely correlated with HY

Symbol	Company	Correlation
SDD	ProShares UltraShort SmallCap600	-0.58
SBB	ProShares Short SmallCap600	-0.58
MZZ	ProShares UltraShort MidCap400	-0.56
TZA	Direxion Daily Small Cap Bear 3x ETF	-0.56
MYY	ProShares Short MidCap400	-0.56

Frequently asked questions about HY correlations

Which stocks are most correlated with HY?: Based on one year of daily returns, the stocks most correlated with Hyster-Yale, Inc. (HY) are PAVE (0.61), TSME (0.60) and PSCI (0.60). 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 HY?: Over the past year, the stocks most inversely correlated with Hyster-Yale, Inc. (HY) are SDD (-0.58), SBB (-0.58) and MZZ (-0.56). 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 HY correlations calculated?: We compute the correlation of daily returns between HY 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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