Direxion Daily Gold Miners Index Bull 2X ETF (NUGT) — Stock Correlations & Overview
Over the past year, NUGT has moved most closely with GDX, GDXU, RING. Explore the stocks most correlated and inversely correlated with NUGT below, along with its price, financials, and company profile.
Stocks correlated with NUGT
Correlation of daily returns. Higher positive values move with NUGT; negative values move opposite it. Informational only, not investment advice.
Most correlated with NUGT
| Symbol | Company | Correlation |
|---|---|---|
| GDX | VanEck Gold Miners ETF | 1.00 |
| GDXU | MicroSectors Gold Miners 3x Leveraged ETNCOMMERCIAL BANKS, NEC | 1.00 |
| RING | iShares MSCI Global Gold Miners ETF | 0.99 |
| GDXJ | VanEck Junior Gold Miners ETF | 0.99 |
| SGDM | Sprott Gold Miners ETF | 0.99 |
Most inversely correlated with NUGT
| Symbol | Company | Correlation |
|---|---|---|
| DUST | Direxion Daily Gold Miners Index Bear 2X ETF | -0.99 |
| GDXD | MicroSectors Gold Miners -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.99 |
| JDST | Direxion Daily Junior Gold Miners Index Bear 2X ETF | -0.98 |
| GLL | ProShares UltraShort GoldCOMMODITY CONTRACTS BROKERS & DEALERS | -0.86 |
| DULL | MicroSectors Gold -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.85 |
Frequently asked questions about NUGT correlations
- Which stocks are most correlated with NUGT?
- Based on one year of daily returns, the stocks most correlated with Direxion Daily Gold Miners Index Bull 2X ETF (NUGT) are GDX (1.00), GDXU (1.00) and RING (0.99). 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 NUGT?
- Over the past year, the stocks most inversely correlated with Direxion Daily Gold Miners Index Bull 2X ETF (NUGT) are DUST (-0.99), GDXD (-0.99) and JDST (-0.98). 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 NUGT correlations calculated?
- We compute the correlation of daily returns between NUGT 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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