KraneShares 2x Long PDD Daily ETF (KPDD) — Stock Correlations & Overview
Over the past year, KPDD has moved most closely with PDD, PDDL, MOTG. Explore the stocks most correlated and inversely correlated with KPDD below, along with its price, financials, and company profile.
Stocks correlated with KPDD
Correlation of daily returns. Higher positive values move with KPDD; negative values move opposite it. Informational only, not investment advice.
Most correlated with KPDD
| Symbol | Company | Correlation |
|---|---|---|
| PDD | PDD Holdings Inc. American Depositary Shares | 0.80 |
| PDDL | GraniteShares 2x Long PDD Daily ETF | 0.80 |
| MOTG | VanEck Morningstar Global Wide Moat ETF | 0.67 |
| KWEB | KraneShares CSI China Internet ETF | 0.66 |
| KBAB | KraneShares 2x Long BABA Daily ETF | 0.62 |
Most inversely correlated with KPDD
| Symbol | Company | Correlation |
|---|---|---|
| YANG | Direxion Daily FTSE China Bear 3X ETF | -0.50 |
| FXP | ProShares UltraShort FTSE China 50 of ProShares Trust | -0.49 |
| YXI | ProShares Short FTSE China 50 of PROSHARES TRUST | -0.49 |
| HXHX | Haoxin Holdings Limited Class A Ordinary Shares | -0.34 |
| EFZ | ProShares Trust Short MSCI EAFE | -0.31 |
Frequently asked questions about KPDD correlations
- Which stocks are most correlated with KPDD?
- Based on one year of daily returns, the stocks most correlated with KraneShares 2x Long PDD Daily ETF (KPDD) are PDD (0.80), PDDL (0.80) and MOTG (0.67). 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 KPDD?
- Over the past year, the stocks most inversely correlated with KraneShares 2x Long PDD Daily ETF (KPDD) are YANG (-0.50), FXP (-0.49) and YXI (-0.49). 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 KPDD correlations calculated?
- We compute the correlation of daily returns between KPDD 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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