GraniteShares ETF Trust GraniteShares 2x Long NVDA Daily ETF (NVDL) — Stock Correlations & Overview
Over the past year, NVDL has moved most closely with NVDA, NVDX, NVDU. Explore the stocks most correlated and inversely correlated with NVDL below, along with its price, financials, and company profile.
Stocks correlated with NVDL
Correlation of daily returns. Higher positive values move with NVDL; negative values move opposite it. Informational only, not investment advice.
Most correlated with NVDL
| Symbol | Company | Correlation |
|---|---|---|
| NVDA | Nvidia CorpSEMICONDUCTORS & RELATED DEVICES | 1.00 |
| NVDX | T-Rex 2X Long NVIDIA Daily Target ETF | 1.00 |
| NVDU | Direxion Shares ETF Trust Direxion Daily NVDA Bull 2X ETF | 1.00 |
| NVDB | ProShares Ultra NVDA | 1.00 |
| NVDG | Leverage Shares 2X Long NVDA Daily ETF | 0.99 |
Most inversely correlated with NVDL
| Symbol | Company | Correlation |
|---|---|---|
| NVDD | Direxion Shares ETF Trust Direxion Daily NVDA Bear 1X ETF | -1.00 |
| NVDQ | T-Rex 2X Inverse NVIDIA Daily Target ETF | -0.99 |
| NVD | GraniteShares ETF Trust GraniteShares 2x Short NVDA Daily ETF | -0.99 |
| NVDS | Investment Managers Series Trust II Tradr 1.5X Short NVDA Daily ETF | -0.97 |
| DIPS | YieldMax Short NVDA Option Income Strategy ETF | -0.93 |
Frequently asked questions about NVDL correlations
- Which stocks are most correlated with NVDL?
- Based on one year of daily returns, the stocks most correlated with GraniteShares ETF Trust GraniteShares 2x Long NVDA Daily ETF (NVDL) are NVDA (1.00), NVDX (1.00) and NVDU (1.00). 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 NVDL?
- Over the past year, the stocks most inversely correlated with GraniteShares ETF Trust GraniteShares 2x Long NVDA Daily ETF (NVDL) are NVDD (-1.00), NVDQ (-0.99) and NVD (-0.99). 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 NVDL correlations calculated?
- We compute the correlation of daily returns between NVDL 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.
Charts and financial information provided by TradingView, a popular charting & trading platform. Check out even more advanced features or grab charts for your website.