Global X Defense Tech ETF (SHLD) — Stock Correlations & Overview
Over the past year, SHLD has moved most closely with WDGF, IDEF, MISL. Explore the stocks most correlated and inversely correlated with SHLD below, along with its price, financials, and company profile.
Stocks correlated with SHLD
Correlation of daily returns. Higher positive values move with SHLD; negative values move opposite it. Informational only, not investment advice.
Most correlated with SHLD
| Symbol | Company | Correlation |
|---|---|---|
| WDGF | WisdomTree Global Defense Fund | 0.96 |
| IDEF | BlackRock ETF Trust iShares Defense Industrials and Tech Active ETF | 0.91 |
| MISL | First Trust Indxx Aerospace & Defense ETF | 0.84 |
| PPA | Invesco Aerospace & Defense ETF | 0.83 |
| NATO | Themes Transatlantic Defense ETF | 0.82 |
Most inversely correlated with SHLD
| Symbol | Company | Correlation |
|---|---|---|
| SARK | Investment Managers Series Trust II Tradr 1X Short Innovation Daily ETF | -0.54 |
| SIJ | ProShares UltraShort Industrials | -0.52 |
| PLTD | Direxion Shares ETF Trust Direxion Dailly PLTR Bear 1X ETF | -0.50 |
| PLTZ | Defiance Daily Target 2x Short PLTR ETF | -0.48 |
| TWM | ProShares UltraShort Russell2000 | -0.48 |
Frequently asked questions about SHLD correlations
- Which stocks are most correlated with SHLD?
- Based on one year of daily returns, the stocks most correlated with Global X Defense Tech ETF (SHLD) are WDGF (0.96), IDEF (0.91) and MISL (0.84). 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 SHLD?
- Over the past year, the stocks most inversely correlated with Global X Defense Tech ETF (SHLD) are SARK (-0.54), SIJ (-0.52) and PLTD (-0.50). 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 SHLD correlations calculated?
- We compute the correlation of daily returns between SHLD 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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