Which stocks are most correlated with IXHL?

Based on one year of daily returns, the stocks most correlated with Incannex Healthcare Limited American Depositary Shares (IXHL) are MNKD (0.39), NOA (0.39) and ALH (0.38). 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 IXHL?

Over the past year, the stocks most inversely correlated with Incannex Healthcare Limited American Depositary Shares (IXHL) are XWEL (-0.36), TZA (-0.25) and TWM (-0.25). A negative correlation means the two stocks have tended to move in opposite directions.

Incannex Healthcare Limited American Depositary Shares (IXHL) — Stock Correlations & Overview

Over the past year, IXHL has moved most closely with MNKD, NOA, ALH. Explore the stocks most correlated and inversely correlated with IXHL below, along with its price, financials, and company profile.

Stocks correlated with IXHL

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

Most correlated with IXHL

Symbol	Company	Correlation
MNKD	Mannkind CorporationPHARMACEUTICAL PREPARATIONS	0.39
NOA	North American Construction Group Ltd.	0.39
ALH	Alliance Laundry Holdings Inc.REFRIGERATION & SERVICE INDUSTRY MACHINERY	0.38
LXFR	Luxfer Holdings PLC Ordinary SharesINDUSTRIAL INORGANIC CHEMICALS	0.38
DRVN	Driven Brands Holdings Inc. Common StockSERVICES-AUTOMOTIVE REPAIR, SERVICES & PARKING	0.37

Most inversely correlated with IXHL

Symbol	Company	Correlation
XWEL	XWELL, Inc. Common StockSERVICES-PERSONAL SERVICES	-0.36
TZA	Direxion Daily Small Cap Bear 3x ETF	-0.25
TWM	ProShares UltraShort Russell2000	-0.25
SRTY	ProShares UltraPro Short Russell2000	-0.25
RWM	ProShares Short Russell2000	-0.24

Frequently asked questions about IXHL correlations

Which stocks are most correlated with IXHL?: Based on one year of daily returns, the stocks most correlated with Incannex Healthcare Limited American Depositary Shares (IXHL) are MNKD (0.39), NOA (0.39) and ALH (0.38). 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 IXHL?: Over the past year, the stocks most inversely correlated with Incannex Healthcare Limited American Depositary Shares (IXHL) are XWEL (-0.36), TZA (-0.25) and TWM (-0.25). 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 IXHL correlations calculated?: We compute the correlation of daily returns between IXHL 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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