GraniteShares 2x Long RIVN Daily ETF (RVNL) — Stock Correlations & Overview
Over the past year, RVNL has moved most closely with RIVN, CARU, IDRV. Explore the stocks most correlated and inversely correlated with RVNL below, along with its price, financials, and company profile.
Stocks correlated with RVNL
Correlation of daily returns. Higher positive values move with RVNL; negative values move opposite it. Informational only, not investment advice.
Most correlated with RVNL
| Symbol | Company | Correlation |
|---|---|---|
| RIVN | Rivian Automotive, Inc. Class A Common StockMOTOR VEHICLES & PASSENGER CAR BODIES | 1.00 |
| CARU | MAX Auto Industry 3x Leveraged ETNCOMMERCIAL BANKS, NEC | 0.58 |
| IDRV | iShares Self-Driving EV and Tech ETF | 0.52 |
| SFYF | SoFi Social 50 ETF | 0.51 |
| ACES | ALPS Clean Energy ETF | 0.50 |
Most inversely correlated with RVNL
| Symbol | Company | Correlation |
|---|---|---|
| CARD | MAX Auto Industry -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.57 |
| SARK | Investment Managers Series Trust II Tradr 1X Short Innovation Daily ETF | -0.45 |
| HIBS | Direxion Daily S&P 500 High Beta Bear 3X ETF | -0.42 |
| PSQ | ProShares Short QQQ | -0.39 |
| TZA | Direxion Daily Small Cap Bear 3x ETF | -0.39 |
Frequently asked questions about RVNL correlations
- Which stocks are most correlated with RVNL?
- Based on one year of daily returns, the stocks most correlated with GraniteShares 2x Long RIVN Daily ETF (RVNL) are RIVN (1.00), CARU (0.58) and IDRV (0.52). 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 RVNL?
- Over the past year, the stocks most inversely correlated with GraniteShares 2x Long RIVN Daily ETF (RVNL) are CARD (-0.57), SARK (-0.45) and HIBS (-0.42). 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 RVNL correlations calculated?
- We compute the correlation of daily returns between RVNL 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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