Leatherback Long/Short Alternative Yield ETF (LBAY) — Stock Correlations & Overview
Over the past year, LBAY has moved most closely with HDV, PAPI, SDY. Explore the stocks most correlated and inversely correlated with LBAY below, along with its price, financials, and company profile.
Stocks correlated with LBAY
Correlation of daily returns. Higher positive values move with LBAY; negative values move opposite it. Informational only, not investment advice.
Most correlated with LBAY
| Symbol | Company | Correlation |
|---|---|---|
| HDV | iShares Core High Dividend ETF | 0.66 |
| PAPI | Parametric Equity Premium Income ETF | 0.63 |
| SDY | State Street SPDR S&P Dividend ETF | 0.63 |
| IYK | iShares U.S. Consumer Staples ETF | 0.62 |
| SPLV | Invesco S&P 500 Low Volatility ETF | 0.62 |
Most inversely correlated with LBAY
| Symbol | Company | Correlation |
|---|---|---|
| SZK | ProShares UltraShort Consumer Staples | -0.58 |
| SMN | ProShares UltraShort Materials | -0.50 |
| CRDO | Credo Technology Group Holding Ltd Ordinary SharesSEMICONDUCTORS & RELATED DEVICES | -0.49 |
| IETC | iShares U.S. Tech Independence Focused ETF | -0.48 |
| CRDU | Tradr 2X Long CRDO Daily ETF | -0.48 |
Frequently asked questions about LBAY correlations
- Which stocks are most correlated with LBAY?
- Based on one year of daily returns, the stocks most correlated with Leatherback Long/Short Alternative Yield ETF (LBAY) are HDV (0.66), PAPI (0.63) and SDY (0.63). 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 LBAY?
- Over the past year, the stocks most inversely correlated with Leatherback Long/Short Alternative Yield ETF (LBAY) are SZK (-0.58), SMN (-0.50) and CRDO (-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 LBAY correlations calculated?
- We compute the correlation of daily returns between LBAY 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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