Mercado Libre, Inc (MELI) — Stock Correlations & Overview
Over the past year, MELI has moved most closely with KMLI, FMQQ, EBIZ. Explore the stocks most correlated and inversely correlated with MELI below, along with its price, financials, and company profile.
Stocks correlated with MELI
Correlation of daily returns. Higher positive values move with MELI; negative values move opposite it. Informational only, not investment advice.
Most correlated with MELI
| Symbol | Company | Correlation |
|---|---|---|
| KMLI | KraneShares 2x Long MELI Daily ETF | 0.99 |
| FMQQ | FMQQ The Next Frontier Internet ETF | 0.63 |
| EBIZ | Global X E-commerce ETF | 0.56 |
| PNQI | Invesco NASDAQ Internet ETF | 0.55 |
| BUYZ | Franklin Disruptive Commerce ETF | 0.53 |
Most inversely correlated with MELI
| Symbol | Company | Correlation |
|---|---|---|
| WEBS | Direxion Daily Dow Jones Internet Bear 3X ETF | -0.45 |
| SCC | ProShares UltraShort Consumer Discretionary | -0.39 |
| FLYD | MicroSectors Travel -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.39 |
| DXD | ProShares UltraShort Dow 30 | -0.35 |
| HDGE | AdvisorShares Ranger Equity Bear ETF | -0.35 |
Frequently asked questions about MELI correlations
- Which stocks are most correlated with MELI?
- Based on one year of daily returns, the stocks most correlated with Mercado Libre, Inc (MELI) are KMLI (0.99), FMQQ (0.63) and EBIZ (0.56). 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 MELI?
- Over the past year, the stocks most inversely correlated with Mercado Libre, Inc (MELI) are WEBS (-0.45), SCC (-0.39) and FLYD (-0.39). 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 MELI correlations calculated?
- We compute the correlation of daily returns between MELI 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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