KraneShares China Alpha Index ETF (KCAI) — Stock Correlations & Overview
Over the past year, KCAI has moved most closely with MOTG, USG, KSPY. Explore the stocks most correlated and inversely correlated with KCAI below, along with its price, financials, and company profile.
Stocks correlated with KCAI
Correlation of daily returns. Higher positive values move with KCAI; negative values move opposite it. Informational only, not investment advice.
Most correlated with KCAI
| Symbol | Company | Correlation |
|---|---|---|
| MOTG | VanEck Morningstar Global Wide Moat ETF | 0.76 |
| USG | USCF GOLD STRATEGY PLUS INCOME FUND | 0.65 |
| KSPY | KraneShares Hedgeye Hedged Equity Index ETF | 0.64 |
| EVMT | Invesco Electric Vehicle Metals Commodity Strategy No K-1 ETF | 0.63 |
| KPDD | KraneShares 2x Long PDD Daily ETF | 0.59 |
Most inversely correlated with KCAI
| Symbol | Company | Correlation |
|---|---|---|
| HXHX | Haoxin Holdings Limited Class A Ordinary Shares | -0.60 |
| UNF | Unifirst CorpSERVICES-PERSONAL SERVICES | -0.40 |
| SIDU | Sidus Space, Inc. Class A Common StockRADIOTELEPHONE COMMUNICATIONS | -0.31 |
| ADEA | Adeia Inc. Common StockCABLE & OTHER PAY TELEVISION SERVICES | -0.28 |
| NRXS | Neuraxis, Inc.ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS | -0.25 |
Frequently asked questions about KCAI correlations
- Which stocks are most correlated with KCAI?
- Based on one year of daily returns, the stocks most correlated with KraneShares China Alpha Index ETF (KCAI) are MOTG (0.76), USG (0.65) and KSPY (0.64). 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 KCAI?
- Over the past year, the stocks most inversely correlated with KraneShares China Alpha Index ETF (KCAI) are HXHX (-0.60), UNF (-0.40) and SIDU (-0.31). 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 KCAI correlations calculated?
- We compute the correlation of daily returns between KCAI 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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