Direxion Shares ETF Trust Direxion Daily PANW Bear 1X ETF (PALD) — Stock Correlations & Overview
Over the past year, PALD has moved most closely with WEBS, FNGD, AIBD. Explore the stocks most correlated and inversely correlated with PALD below, along with its price, financials, and company profile.
Stocks correlated with PALD
Correlation of daily returns. Higher positive values move with PALD; negative values move opposite it. Informational only, not investment advice.
Most correlated with PALD
| Symbol | Company | Correlation |
|---|---|---|
| WEBS | Direxion Daily Dow Jones Internet Bear 3X ETF | 0.53 |
| FNGD | MicroSectors FANG+ Index -3X Inverse Leveraged ETNs due January 8, 2038COMMERCIAL BANKS, NEC | 0.46 |
| AIBD | Direxion Daily AI and Big Data Bear 2X ETF | 0.45 |
| TECS | Direxion Daily Technology Bear 3x ETF | 0.44 |
| REW | Proshares UltraShort Technology | 0.43 |
Most inversely correlated with PALD
| Symbol | Company | Correlation |
|---|---|---|
| PANW | Palo Alto Networks, Inc. Common StockCOMPUTER PERIPHERAL EQUIPMENT, NEC | -1.00 |
| PALU | Direxion Shares ETF Trust Direxion Daily PANW Bull 2X ETF | -0.99 |
| PANG | Leverage Shares 2X Long PANW Daily ETF | -0.99 |
| UCYB | ProShares Ultra Nasdaq Cybersecurity ETF | -0.83 |
| CIBR | First Trust Exchange-Traded Fund II First Trust NASDAQ Cybersecurity ETF | -0.83 |
Frequently asked questions about PALD correlations
- Which stocks are most correlated with PALD?
- Based on one year of daily returns, the stocks most correlated with Direxion Shares ETF Trust Direxion Daily PANW Bear 1X ETF (PALD) are WEBS (0.53), FNGD (0.46) and AIBD (0.45). 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 PALD?
- Over the past year, the stocks most inversely correlated with Direxion Shares ETF Trust Direxion Daily PANW Bear 1X ETF (PALD) are PANW (-1.00), PALU (-0.99) and PANG (-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 PALD correlations calculated?
- We compute the correlation of daily returns between PALD 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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