GraniteShares Platinum Shares (PLTM) — Stock Correlations & Overview
Over the past year, PLTM has moved most closely with PPLT, SPPP, PALL. Explore the stocks most correlated and inversely correlated with PLTM below, along with its price, financials, and company profile.
Stocks correlated with PLTM
Correlation of daily returns. Higher positive values move with PLTM; negative values move opposite it. Informational only, not investment advice.
Most correlated with PLTM
| Symbol | Company | Correlation |
|---|---|---|
| PPLT | abrdn Physical Platinum Shares ETFCOMMODITY CONTRACTS BROKERS & DEALERS | 1.00 |
| SPPP | Sprott Physical Platinum and Palladium Trust | 0.97 |
| PALL | abrdn Physical Palladium Shares ETFCOMMODITY CONTRACTS BROKERS & DEALERS | 0.85 |
| GLTR | abrdn Physical Precious Metals Basket Shares ETFCOMMODITY CONTRACTS BROKERS & DEALERS | 0.85 |
| DBP | Invesco DB Precious Metals FundCOMMODITY CONTRACTS BROKERS & DEALERS | 0.83 |
Most inversely correlated with PLTM
| Symbol | Company | Correlation |
|---|---|---|
| ZSL | ProShares UltraShort SilverCOMMODITY CONTRACTS BROKERS & DEALERS | -0.80 |
| GLL | ProShares UltraShort GoldCOMMODITY CONTRACTS BROKERS & DEALERS | -0.74 |
| DUST | Direxion Daily Gold Miners Index Bear 2X ETF | -0.73 |
| JDST | Direxion Daily Junior Gold Miners Index Bear 2X ETF | -0.73 |
| DULL | MicroSectors Gold -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.73 |
Frequently asked questions about PLTM correlations
- Which stocks are most correlated with PLTM?
- Based on one year of daily returns, the stocks most correlated with GraniteShares Platinum Shares (PLTM) are PPLT (1.00), SPPP (0.97) and PALL (0.85). 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 PLTM?
- Over the past year, the stocks most inversely correlated with GraniteShares Platinum Shares (PLTM) are ZSL (-0.80), GLL (-0.74) and DUST (-0.73). 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 PLTM correlations calculated?
- We compute the correlation of daily returns between PLTM 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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