Purple Innovation, Inc. Common Stock (PRPL) — Stock Correlations & Overview
Over the past year, PRPL has moved most closely with HUBG, GMED, OPFI. Explore the stocks most correlated and inversely correlated with PRPL below, along with its price, financials, and company profile.
Stocks correlated with PRPL
Correlation of daily returns. Higher positive values move with PRPL; negative values move opposite it. Informational only, not investment advice.
Most correlated with PRPL
| Symbol | Company | Correlation |
|---|---|---|
| HUBG | HUB Group IncARRANGEMENT OF TRANSPORTATION OF FREIGHT & CARGO | 0.31 |
| GMED | GLOBUS MEDICAL INCSURGICAL & MEDICAL INSTRUMENTS & APPARATUS | 0.30 |
| OPFI | OppFi Inc.FINANCE SERVICES | 0.29 |
| ACM | AecomSERVICES-ENGINEERING SERVICES | 0.29 |
| CRUS | Cirrus Logic IncSEMICONDUCTORS & RELATED DEVICES | 0.29 |
Most inversely correlated with PRPL
| Symbol | Company | Correlation |
|---|---|---|
| HDGE | AdvisorShares Ranger Equity Bear ETF | -0.26 |
| SMDD | ProShares UltraPro Short MidCap400 | -0.24 |
| SBB | ProShares Short SmallCap600 | -0.23 |
| DWSH | AdvisorShares Dorsey Wright Short ETF | -0.23 |
| FLYD | MicroSectors Travel -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.23 |
Frequently asked questions about PRPL correlations
- Which stocks are most correlated with PRPL?
- Based on one year of daily returns, the stocks most correlated with Purple Innovation, Inc. Common Stock (PRPL) are HUBG (0.31), GMED (0.30) and OPFI (0.29). 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 PRPL?
- Over the past year, the stocks most inversely correlated with Purple Innovation, Inc. Common Stock (PRPL) are HDGE (-0.26), SMDD (-0.24) and SBB (-0.23). 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 PRPL correlations calculated?
- We compute the correlation of daily returns between PRPL 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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