NaaS Technology Inc. American Depositary Shares (NAAS) — Stock Correlations & Overview
Over the past year, NAAS has moved most closely with SKYU, SKYY, FCLD. Explore the stocks most correlated and inversely correlated with NAAS below, along with its price, financials, and company profile.
Stocks correlated with NAAS
Correlation of daily returns. Higher positive values move with NAAS; negative values move opposite it. Informational only, not investment advice.
Most correlated with NAAS
| Symbol | Company | Correlation |
|---|---|---|
| SKYU | ProShares Ultra Nasdaq Cloud Computing ETF | 0.32 |
| SKYY | First Trust Cloud Computing ETF | 0.31 |
| FCLD | Fidelity Cloud Computing ETF | 0.31 |
| CLOU | Global X Cloud Computing ETF | 0.30 |
| KVYO | Klaviyo, Inc.SERVICES-PREPACKAGED SOFTWARE | 0.30 |
Most inversely correlated with NAAS
| Symbol | Company | Correlation |
|---|---|---|
| WEBS | Direxion Daily Dow Jones Internet Bear 3X ETF | -0.26 |
| FNGD | MicroSectors FANG+ Index -3X Inverse Leveraged ETNs due January 8, 2038COMMERCIAL BANKS, NEC | -0.23 |
| UCIB | ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B due April 5, 2038 | -0.23 |
| BITI | ProShares Short Bitcoin ETF | -0.23 |
| SBIT | ProShares UltraShort Bitcoin ETF | -0.22 |
Frequently asked questions about NAAS correlations
- Which stocks are most correlated with NAAS?
- Based on one year of daily returns, the stocks most correlated with NaaS Technology Inc. American Depositary Shares (NAAS) are SKYU (0.32), SKYY (0.31) and FCLD (0.31). 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 NAAS?
- Over the past year, the stocks most inversely correlated with NaaS Technology Inc. American Depositary Shares (NAAS) are WEBS (-0.26), FNGD (-0.23) and UCIB (-0.23). 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 NAAS correlations calculated?
- We compute the correlation of daily returns between NAAS 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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