Soundwatch Hedged Equity ETF (SHDG) — Stock Correlations & Overview
Over the past year, SHDG has moved most closely with EALT, TWOX, XDSQ. Explore the stocks most correlated and inversely correlated with SHDG below, along with its price, financials, and company profile.
Stocks correlated with SHDG
Correlation of daily returns. Higher positive values move with SHDG; negative values move opposite it. Informational only, not investment advice.
Most correlated with SHDG
| Symbol | Company | Correlation |
|---|---|---|
| EALT | Innovator U.S. Equity 5 to 15 Buffer ETF - Quarterly | 0.97 |
| TWOX | iShares Large Cap Accelerated Outcome ETF | 0.94 |
| XDSQ | Innovator U.S. Equity Accelerated ETF - Quarterly | 0.93 |
| JULT | AllianzIM U.S. Equity Buffer10 Jul ETF | 0.91 |
| IVVB | iShares Large Cap Deep Quarterly Laddered ETF | 0.91 |
Frequently asked questions about SHDG correlations
- Which stocks are most correlated with SHDG?
- Based on one year of daily returns, the stocks most correlated with Soundwatch Hedged Equity ETF (SHDG) are EALT (0.97), TWOX (0.94) and XDSQ (0.93). 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 SHDG?
- Over the past year, the stocks most inversely correlated with Soundwatch Hedged Equity ETF (SHDG) are SPDN (-0.87), SPXS (-0.86) and SDS (-0.86). 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 SHDG correlations calculated?
- We compute the correlation of daily returns between SHDG 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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