Methanex Corp (MEOH) — Stock Correlations & Overview
Over the past year, MEOH has moved most closely with DOW, LYB, NRGU. Explore the stocks most correlated and inversely correlated with MEOH below, along with its price, financials, and company profile.
Stocks correlated with MEOH
Correlation of daily returns. Higher positive values move with MEOH; negative values move opposite it. Informational only, not investment advice.
Most correlated with MEOH
| Symbol | Company | Correlation |
|---|---|---|
| DOW | Dow Inc.PLASTIC MATERIALS, SYNTH RESINS & NONVULCAN ELASTOMERS | 0.58 |
| LYB | LyondellBasell Industries N.V. Class AINDUSTRIAL ORGANIC CHEMICALS | 0.57 |
| NRGU | MicroSectors U.S. Big Oil 3x Leveraged ETNs due February 17, 2045COMMERCIAL BANKS, NEC | 0.53 |
| PXI | Invesco Exchange-Traded Fund Trust Invesco Dorsey Wright Energy Momentum ETF | 0.53 |
| WTIU | MicroSectors Energy 3x Leveraged ETNsCOMMERCIAL BANKS, NEC | 0.52 |
Most inversely correlated with MEOH
| Symbol | Company | Correlation |
|---|---|---|
| WTID | MicroSectors Energy -3x Inverse Leveraged ETNsCOMMERCIAL BANKS, NEC | -0.53 |
| NRGD | MicroSectors U.S. Big Oil -3x Inverse Leveraged ETNs due February 17, 2045COMMERCIAL BANKS, NEC | -0.53 |
| DRIP | Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF | -0.51 |
| OILD | MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.50 |
| ERY | Direxion Daily Energy Bear 2X ETF | -0.49 |
Frequently asked questions about MEOH correlations
- Which stocks are most correlated with MEOH?
- Based on one year of daily returns, the stocks most correlated with Methanex Corp (MEOH) are DOW (0.58), LYB (0.57) and NRGU (0.53). 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 MEOH?
- Over the past year, the stocks most inversely correlated with Methanex Corp (MEOH) are WTID (-0.53), NRGD (-0.53) and DRIP (-0.51). 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 MEOH correlations calculated?
- We compute the correlation of daily returns between MEOH 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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