Columbia U.S. High Yield ETF (NJNK) — Stock Correlations & Overview
Over the past year, NJNK has moved most closely with JNK, HYGV, SPHY. Explore the stocks most correlated and inversely correlated with NJNK below, along with its price, financials, and company profile.
Stocks correlated with NJNK
Correlation of daily returns. Higher positive values move with NJNK; negative values move opposite it. Informational only, not investment advice.
Most correlated with NJNK
| Symbol | Company | Correlation |
|---|---|---|
| JNK | State Street SPDR Bloomberg High Yield Bond ETF | 0.87 |
| HYGV | Northern Trust High Yield Value-Scored Bond ETF | 0.87 |
| SPHY | State Street SPDR Portfolio High Yield Bond ETF | 0.86 |
| USHY | iShares Broad USD High Yield Corporate Bond ETF | 0.86 |
| HYDB | iShares High Yield Systematic Bond ETF | 0.86 |
Frequently asked questions about NJNK correlations
- Which stocks are most correlated with NJNK?
- Based on one year of daily returns, the stocks most correlated with Columbia U.S. High Yield ETF (NJNK) are JNK (0.87), HYGV (0.87) and SPHY (0.86). 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 NJNK?
- Over the past year, the stocks most inversely correlated with Columbia U.S. High Yield ETF (NJNK) are SJB (-0.68), SRTY (-0.65) and RWM (-0.64). 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 NJNK correlations calculated?
- We compute the correlation of daily returns between NJNK 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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