Which stocks are most correlated with IGD?

Based on one year of daily returns, the stocks most correlated with VOYA GLOBAL EQUITY DIVIDEND AND PREMIUM OPPORTUNITY FUND (IGD) are IGA (0.68), CCEF (0.66) and SPYT (0.62). 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 IGD?

Over the past year, the stocks most inversely correlated with VOYA GLOBAL EQUITY DIVIDEND AND PREMIUM OPPORTUNITY FUND (IGD) are SPXS (-0.57), SPXU (-0.57) and SDS (-0.57). A negative correlation means the two stocks have tended to move in opposite directions.

VOYA GLOBAL EQUITY DIVIDEND AND PREMIUM OPPORTUNITY FUND (IGD) — Stock Correlations & Overview

Over the past year, IGD has moved most closely with IGA, CCEF, SPYT. Explore the stocks most correlated and inversely correlated with IGD below, along with its price, financials, and company profile.

Stocks correlated with IGD

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

Most correlated with IGD

Symbol	Company	Correlation
IGA	VOYA GLOBAL ADVANTAGE AND PREMIUM OPPORTUNITY FUND	0.68
CCEF	Calamos CEF Income & Arbitrage ETF	0.66
SPYT	Defiance S&P 500 Income Target ETF	0.62
GPIX	Goldman Sachs ETF Trust Goldman Sachs S&P 500 Premium Income ETF	0.61
GQI	Natixis Gateway Quality Income ETF	0.61

Most inversely correlated with IGD

Symbol	Company	Correlation
SPXS	Direxion Daily S&P 500 Bear 3x ETF	-0.57
SPXU	ProShares UltraPro Short S&P 500	-0.57
SDS	ProShares UltraShort S&P500	-0.57
SH	ProShares Short S&P500	-0.56
SPDN	Direxion Daily S&P 500 Bear 1X ETF	-0.56

Frequently asked questions about IGD correlations

Which stocks are most correlated with IGD?: Based on one year of daily returns, the stocks most correlated with VOYA GLOBAL EQUITY DIVIDEND AND PREMIUM OPPORTUNITY FUND (IGD) are IGA (0.68), CCEF (0.66) and SPYT (0.62). 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 IGD?: Over the past year, the stocks most inversely correlated with VOYA GLOBAL EQUITY DIVIDEND AND PREMIUM OPPORTUNITY FUND (IGD) are SPXS (-0.57), SPXU (-0.57) and SDS (-0.57). 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 IGD correlations calculated?: We compute the correlation of daily returns between IGD 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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