Sprott Nickel Miners ETF (NIKL) — Stock Correlations & Overview
Over the past year, NIKL has moved most closely with PICK, ICOP, METL. Explore the stocks most correlated and inversely correlated with NIKL below, along with its price, financials, and company profile.
Stocks correlated with NIKL
Correlation of daily returns. Higher positive values move with NIKL; negative values move opposite it. Informational only, not investment advice.
Most correlated with NIKL
| Symbol | Company | Correlation |
|---|---|---|
| PICK | iShares MSCI Global Metals & Mining Producers ETF | 0.81 |
| ICOP | iShares Copper and Metals Mining ETF | 0.80 |
| METL | Sprott Active Metals & Miners ETF | 0.80 |
| SETM | Sprott Funds Trust Sprott Critical Materials ETF | 0.79 |
| COPP | Sprott Copper Miners ETF | 0.79 |
Most inversely correlated with NIKL
| Symbol | Company | Correlation |
|---|---|---|
| JDST | Direxion Daily Junior Gold Miners Index Bear 2X ETF | -0.71 |
| GDXD | MicroSectors Gold Miners -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.70 |
| DUST | Direxion Daily Gold Miners Index Bear 2X ETF | -0.70 |
| ZSL | ProShares UltraShort SilverCOMMODITY CONTRACTS BROKERS & DEALERS | -0.69 |
| GLL | ProShares UltraShort GoldCOMMODITY CONTRACTS BROKERS & DEALERS | -0.63 |
Frequently asked questions about NIKL correlations
- Which stocks are most correlated with NIKL?
- Based on one year of daily returns, the stocks most correlated with Sprott Nickel Miners ETF (NIKL) are PICK (0.81), ICOP (0.80) and METL (0.80). 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 NIKL?
- Over the past year, the stocks most inversely correlated with Sprott Nickel Miners ETF (NIKL) are JDST (-0.71), GDXD (-0.70) and DUST (-0.70). 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 NIKL correlations calculated?
- We compute the correlation of daily returns between NIKL 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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