Defiance Daily Target 2X Long RKLB ETF (RKLX) — Stock Correlations & Overview
Over the past year, RKLX has moved most closely with RKLB, UFO, ARKX. Explore the stocks most correlated and inversely correlated with RKLX below, along with its price, financials, and company profile.
Stocks correlated with RKLX
Correlation of daily returns. Higher positive values move with RKLX; negative values move opposite it. Informational only, not investment advice.
Most correlated with RKLX
| Symbol | Company | Correlation |
|---|---|---|
| RKLB | Rocket Lab Corporation Common StockGUIDED MISSILES & SPACE VEHICLES & PARTS | 1.00 |
| UFO | Procure Space ETF | 0.85 |
| ARKX | ARK Space & Defense Innovation ETF | 0.81 |
| ROKT | State Street SPDR S&P Kensho Final Frontiers ETF | 0.81 |
| ARKQ | ARK Autonomous Technology & Robotics ETF | 0.76 |
Most inversely correlated with RKLX
| Symbol | Company | Correlation |
|---|---|---|
| SARK | Investment Managers Series Trust II Tradr 1X Short Innovation Daily ETF | -0.58 |
| IONZ | Defiance Daily Target 2x Short IONQ ETF | -0.54 |
| TZA | Direxion Daily Small Cap Bear 3x ETF | -0.53 |
| SRTY | ProShares UltraPro Short Russell2000 | -0.53 |
| TWM | ProShares UltraShort Russell2000 | -0.53 |
Frequently asked questions about RKLX correlations
- Which stocks are most correlated with RKLX?
- Based on one year of daily returns, the stocks most correlated with Defiance Daily Target 2X Long RKLB ETF (RKLX) are RKLB (1.00), UFO (0.85) and ARKX (0.81). 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 RKLX?
- Over the past year, the stocks most inversely correlated with Defiance Daily Target 2X Long RKLB ETF (RKLX) are SARK (-0.58), IONZ (-0.54) and TZA (-0.53). 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 RKLX correlations calculated?
- We compute the correlation of daily returns between RKLX 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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