Renaissance IPO ETF (IPO) — Stock Correlations & Overview
Over the past year, IPO has moved most closely with AGIX, THNQ, TRFM. Explore the stocks most correlated and inversely correlated with IPO below, along with its price, financials, and company profile.
Stocks correlated with IPO
Correlation of daily returns. Higher positive values move with IPO; negative values move opposite it. Informational only, not investment advice.
Most correlated with IPO
| Symbol | Company | Correlation |
|---|---|---|
| AGIX | KraneShares Trust KraneShares Public-Private AI & Technology ETF | 0.89 |
| THNQ | ROBO Global Artificial Intelligence ETF | 0.87 |
| TRFM | AAM Transformers ETF | 0.86 |
| LOUP | Innovator Deepwater Frontier Tech ETF | 0.86 |
| BUZZ | VanEck Social Sentiment ETF | 0.85 |
Most inversely correlated with IPO
| Symbol | Company | Correlation |
|---|---|---|
| HIBS | Direxion Daily S&P 500 High Beta Bear 3X ETF | -0.81 |
| SARK | Investment Managers Series Trust II Tradr 1X Short Innovation Daily ETF | -0.80 |
| TECS | Direxion Daily Technology Bear 3x ETF | -0.80 |
| REW | Proshares UltraShort Technology | -0.80 |
| QID | ProShares UltraShort QQQ | -0.78 |
Frequently asked questions about IPO correlations
- Which stocks are most correlated with IPO?
- Based on one year of daily returns, the stocks most correlated with Renaissance IPO ETF (IPO) are AGIX (0.89), THNQ (0.87) and TRFM (0.86). 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 IPO?
- Over the past year, the stocks most inversely correlated with Renaissance IPO ETF (IPO) are HIBS (-0.81), SARK (-0.80) and TECS (-0.80). 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 IPO correlations calculated?
- We compute the correlation of daily returns between IPO 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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