ReNew Energy Global plc Class A Ordinary Shares (RNW) — Stock Correlations & Overview
Over the past year, RNW has moved most closely with LVDS, STBF, EMF. Explore the stocks most correlated and inversely correlated with RNW below, along with its price, financials, and company profile.
Stocks correlated with RNW
Correlation of daily returns. Higher positive values move with RNW; negative values move opposite it. Informational only, not investment advice.
Most correlated with RNW
| Symbol | Company | Correlation |
|---|---|---|
| LVDS | JPMorgan Fundamental Data Science Large Value ETF | 0.54 |
| STBF | Performance Trust Short Term Bond ETF | 0.37 |
| EMF | Templeton Emerging Markets Fund | 0.36 |
| TEI | Templeton Emerging Markets Income Fund | 0.35 |
| QMCO | Quantum CorporationCOMPUTER STORAGE DEVICES | 0.35 |
Most inversely correlated with RNW
| Symbol | Company | Correlation |
|---|---|---|
| RADX | Radiopharm Theranostics Limited American Depositary Shares | -0.44 |
| EUM | ProShares Trust Short MSCI Emerging Markets | -0.26 |
| EEV | ProShares Trust UltraShort MSCI Emerging Markets | -0.26 |
| EDZ | Direxion Daily MSCI Emerging Markets Bear 3X ETF | -0.26 |
| REW | Proshares UltraShort Technology | -0.24 |
Frequently asked questions about RNW correlations
- Which stocks are most correlated with RNW?
- Based on one year of daily returns, the stocks most correlated with ReNew Energy Global plc Class A Ordinary Shares (RNW) are LVDS (0.54), STBF (0.37) and EMF (0.36). 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 RNW?
- Over the past year, the stocks most inversely correlated with ReNew Energy Global plc Class A Ordinary Shares (RNW) are RADX (-0.44), EUM (-0.26) and EEV (-0.26). 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 RNW correlations calculated?
- We compute the correlation of daily returns between RNW 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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