Direxion Daily MSCI India Bull 2X ETF (INDL) — Stock Correlations & Overview
Over the past year, INDL has moved most closely with INDA, FLIN, EPI. Explore the stocks most correlated and inversely correlated with INDL below, along with its price, financials, and company profile.
Stocks correlated with INDL
Correlation of daily returns. Higher positive values move with INDL; negative values move opposite it. Informational only, not investment advice.
Most correlated with INDL
| Symbol | Company | Correlation |
|---|---|---|
| INDA | iShares MSCI India ETF | 1.00 |
| FLIN | Franklin FTSE India ETF | 0.99 |
| EPI | WisdomTree India Earnings Fund ETF | 0.98 |
| GIND | Goldman Sachs India Equity ETF | 0.97 |
| NFTY | First Trust India Nifty 50 Equal Weight ETF | 0.95 |
Most inversely correlated with INDL
| Symbol | Company | Correlation |
|---|---|---|
| EFU | ProShares Trust UltraShort MSCI EAFE | -0.61 |
| EPV | ProShares UltraShort FTSE Europe | -0.61 |
| EFZ | ProShares Trust Short MSCI EAFE | -0.60 |
| DBE | Invesco DB Energy FundCOMMODITY CONTRACTS BROKERS & DEALERS | -0.57 |
| EEV | ProShares Trust UltraShort MSCI Emerging Markets | -0.57 |
Frequently asked questions about INDL correlations
- Which stocks are most correlated with INDL?
- Based on one year of daily returns, the stocks most correlated with Direxion Daily MSCI India Bull 2X ETF (INDL) are INDA (1.00), FLIN (0.99) and EPI (0.98). 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 INDL?
- Over the past year, the stocks most inversely correlated with Direxion Daily MSCI India Bull 2X ETF (INDL) are EFU (-0.61), EPV (-0.61) and EFZ (-0.60). 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 INDL correlations calculated?
- We compute the correlation of daily returns between INDL 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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