Overlay Shares Hedged Large Cap Equity ETF (OVLH) — Stock Correlations & Overview
Over the past year, OVLH has moved most closely with UXOC, UXJA, XUSP. Explore the stocks most correlated and inversely correlated with OVLH below, along with its price, financials, and company profile.
Stocks correlated with OVLH
Correlation of daily returns. Higher positive values move with OVLH; negative values move opposite it. Informational only, not investment advice.
Most correlated with OVLH
| Symbol | Company | Correlation |
|---|---|---|
| UXOC | FT Vest U.S. Equity Uncapped Accelerator ETF - October | 0.97 |
| UXJA | FT Vest U.S. Equity Uncapped Accelerator ETF - January | 0.97 |
| XUSP | Innovator Uncapped Accelerated U.S. Equity ETF | 0.97 |
| UXJL | FT Vest U.S. Equity Uncapped Accelerator ETF - July | 0.97 |
| GXLC | Global X U.S. 500 ETF | 0.97 |
Frequently asked questions about OVLH correlations
- Which stocks are most correlated with OVLH?
- Based on one year of daily returns, the stocks most correlated with Overlay Shares Hedged Large Cap Equity ETF (OVLH) are UXOC (0.97), UXJA (0.97) and XUSP (0.97). 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 OVLH?
- Over the past year, the stocks most inversely correlated with Overlay Shares Hedged Large Cap Equity ETF (OVLH) are SPXU (-0.96), SDS (-0.96) and SPXS (-0.96). 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 OVLH correlations calculated?
- We compute the correlation of daily returns between OVLH 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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