POET Technologies Inc. Common Shares (POET) — Stock Correlations & Overview
Over the past year, POET has moved most closely with XSD, SMHX, VERS. Explore the stocks most correlated and inversely correlated with POET below, along with its price, financials, and company profile.
Stocks correlated with POET
Correlation of daily returns. Higher positive values move with POET; negative values move opposite it. Informational only, not investment advice.
Most correlated with POET
| Symbol | Company | Correlation |
|---|---|---|
| XSD | State Street SPDR S&P Semiconductor ETF | 0.51 |
| SMHX | VanEck Fabless Semiconductor ETF | 0.51 |
| VERS | ProShares Metaverse ETF | 0.50 |
| SPRX | Spear Alpha ETF | 0.50 |
| MEME | Roundhill Meme Stock ETF | 0.50 |
Most inversely correlated with POET
| Symbol | Company | Correlation |
|---|---|---|
| TECS | Direxion Daily Technology Bear 3x ETF | -0.47 |
| REW | Proshares UltraShort Technology | -0.47 |
| SOXS | Direxion Daily Semiconductor Bear 3X ETF | -0.46 |
| HIBS | Direxion Daily S&P 500 High Beta Bear 3X ETF | -0.45 |
| AMDD | Direxion Shares ETF Trust Direxion Daily AMD Bear 1X ETF | -0.45 |
Frequently asked questions about POET correlations
- Which stocks are most correlated with POET?
- Based on one year of daily returns, the stocks most correlated with POET Technologies Inc. Common Shares (POET) are XSD (0.51), SMHX (0.51) and VERS (0.50). 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 POET?
- Over the past year, the stocks most inversely correlated with POET Technologies Inc. Common Shares (POET) are TECS (-0.47), REW (-0.47) and SOXS (-0.46). 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 POET correlations calculated?
- We compute the correlation of daily returns between POET 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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