GraniteShares 2x Long NOW Daily ETF (NOWL) — Stock Correlations & Overview
Over the past year, NOWL has moved most closely with NOW, WCLD, CRMG. Explore the stocks most correlated and inversely correlated with NOWL below, along with its price, financials, and company profile.
Stocks correlated with NOWL
Correlation of daily returns. Higher positive values move with NOWL; negative values move opposite it. Informational only, not investment advice.
Most correlated with NOWL
| Symbol | Company | Correlation |
|---|---|---|
| NOW | SERVICENOW, INC.SERVICES-PREPACKAGED SOFTWARE | 1.00 |
| WCLD | WisdomTree Cloud Computing Fund | 0.80 |
| CRMG | Leverage Shares 2X Long CRM Daily ETF | 0.78 |
| IGV | iShares Expanded Tech-Software Sector ETF | 0.78 |
| CRM | Salesforce, Inc.SERVICES-PREPACKAGED SOFTWARE | 0.77 |
Most inversely correlated with NOWL
| Symbol | Company | Correlation |
|---|---|---|
| WEBS | Direxion Daily Dow Jones Internet Bear 3X ETF | -0.53 |
| HDGE | AdvisorShares Ranger Equity Bear ETF | -0.52 |
| MSFD | Direxion Shares ETF Trust Direxion Daily MSFT Bear 1X ETF | -0.50 |
| PALD | Direxion Shares ETF Trust Direxion Daily PANW Bear 1X ETF | -0.49 |
| DWSH | AdvisorShares Dorsey Wright Short ETF | -0.45 |
Frequently asked questions about NOWL correlations
- Which stocks are most correlated with NOWL?
- Based on one year of daily returns, the stocks most correlated with GraniteShares 2x Long NOW Daily ETF (NOWL) are NOW (1.00), WCLD (0.80) and CRMG (0.78). 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 NOWL?
- Over the past year, the stocks most inversely correlated with GraniteShares 2x Long NOW Daily ETF (NOWL) are WEBS (-0.53), HDGE (-0.52) and MSFD (-0.50). 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 NOWL correlations calculated?
- We compute the correlation of daily returns between NOWL 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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