Simplify Multi-QIS Alternative ETF (QIS) — Stock Correlations & Overview
Over the past year, QIS has moved most closely with CTA, HARD, GSG. Explore the stocks most correlated and inversely correlated with QIS below, along with its price, financials, and company profile.
Stocks correlated with QIS
Correlation of daily returns. Higher positive values move with QIS; negative values move opposite it. Informational only, not investment advice.
Most correlated with QIS
| Symbol | Company | Correlation |
|---|---|---|
| CTA | Simplify Managed Futures Strategy ETFPLASTIC MATERIAL, SYNTH RESIN/RUBBER, CELLULOS (NO GLASS) | 0.69 |
| HARD | Simplify Commodities Strategy No K-1 ETF | 0.62 |
| GSG | iShares S&P GSCI Commodity-Indexed TrustCOMMODITY CONTRACTS BROKERS & DEALERS | 0.61 |
| DBC | Invesco DB Commodity Index Tracking FundCOMMODITY CONTRACTS BROKERS & DEALERS | 0.60 |
| USOY | Defiance Oil Enhanced Options Income ETF | 0.60 |
Most inversely correlated with QIS
| Symbol | Company | Correlation |
|---|---|---|
| SCO | ProShares UltraShort Bloomberg Crude OilCOMMODITY CONTRACTS BROKERS & DEALERS | -0.56 |
| DRIP | Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF | -0.45 |
| NRGD | MicroSectors U.S. Big Oil -3x Inverse Leveraged ETNs due February 17, 2045COMMERCIAL BANKS, NEC | -0.43 |
| OILD | MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.43 |
| WTID | MicroSectors Energy -3x Inverse Leveraged ETNsCOMMERCIAL BANKS, NEC | -0.43 |
Frequently asked questions about QIS correlations
- Which stocks are most correlated with QIS?
- Based on one year of daily returns, the stocks most correlated with Simplify Multi-QIS Alternative ETF (QIS) are CTA (0.69), HARD (0.62) and GSG (0.61). 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 QIS?
- Over the past year, the stocks most inversely correlated with Simplify Multi-QIS Alternative ETF (QIS) are SCO (-0.56), DRIP (-0.45) and NRGD (-0.43). 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 QIS correlations calculated?
- We compute the correlation of daily returns between QIS 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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