Direxion Shares ETF Trust Direxion Daily META Bear 1X ETF (METD) — Stock Correlations & Overview
Over the past year, METD has moved most closely with QQQD, WEBS, SCC. Explore the stocks most correlated and inversely correlated with METD below, along with its price, financials, and company profile.
Stocks correlated with METD
Correlation of daily returns. Higher positive values move with METD; negative values move opposite it. Informational only, not investment advice.
Most correlated with METD
| Symbol | Company | Correlation |
|---|---|---|
| QQQD | Direxion Daily Magnificent 7 Bear 1X ETF | 0.65 |
| WEBS | Direxion Daily Dow Jones Internet Bear 3X ETF | 0.55 |
| SCC | ProShares UltraShort Consumer Discretionary | 0.51 |
| FNGD | MicroSectors FANG+ Index -3X Inverse Leveraged ETNs due January 8, 2038COMMERCIAL BANKS, NEC | 0.49 |
| SPDN | Direxion Daily S&P 500 Bear 1X ETF | 0.47 |
Most inversely correlated with METD
| Symbol | Company | Correlation |
|---|---|---|
| META | Meta Platforms, Inc. Class A Common StockSERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. | -1.00 |
| FBL | GraniteShares ETF Trust GraniteShares 2x Long META Daily ETF | -0.99 |
| METU | Direxion Shares ETF Trust Direxion Daily META Bull 2X ETF | -0.99 |
| METW | Roundhill META WeeklyPay ETF | -0.99 |
| FBY | YieldMax META Option Income Strategy ETF | -0.96 |
Frequently asked questions about METD correlations
- Which stocks are most correlated with METD?
- Based on one year of daily returns, the stocks most correlated with Direxion Shares ETF Trust Direxion Daily META Bear 1X ETF (METD) are QQQD (0.65), WEBS (0.55) and SCC (0.51). 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 METD?
- Over the past year, the stocks most inversely correlated with Direxion Shares ETF Trust Direxion Daily META Bear 1X ETF (METD) are META (-1.00), FBL (-0.99) and METU (-0.99). 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 METD correlations calculated?
- We compute the correlation of daily returns between METD 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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