Defiance Nasdaq 100 LightningSpread Income ETF (QLDY) — Stock Correlations & Overview

Frequently asked questions about QLDY correlations

Which stocks are most correlated with QLDY?

Based on one year of daily returns, the stocks most correlated with Defiance Nasdaq 100 LightningSpread Income ETF (QLDY) are QLD (0.98), TQQQ (0.98) and QQQ (0.98). 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 QLDY?

Over the past year, the stocks most inversely correlated with Defiance Nasdaq 100 LightningSpread Income ETF (QLDY) are SQQQ (-0.98), QID (-0.98) and PSQ (-0.97). 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 QLDY correlations calculated?

We compute the correlation of daily returns between QLDY 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.