Which stocks are most correlated with SHMDW?

Based on one year of daily returns, the stocks most correlated with SCHMID Group N.V. Warrants (SHMDW) are SHMD (0.70), GAM (0.41) and SIXZ (0.34). 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 SHMDW?

Over the past year, the stocks most inversely correlated with SCHMID Group N.V. Warrants (SHMDW) are SPXS (-0.25), DXD (-0.24) and SPXU (-0.24). A negative correlation means the two stocks have tended to move in opposite directions.

SCHMID Group N.V. Warrants (SHMDW) — Stock Correlations & Overview

Over the past year, SHMDW has moved most closely with SHMD, GAM, SIXZ. Explore the stocks most correlated and inversely correlated with SHMDW below, along with its price, financials, and company profile.

Stocks correlated with SHMDW

Correlation of daily returns. Higher positive values move with SHMDW; negative values move opposite it. Informational only, not investment advice.

Most correlated with SHMDW

Symbol	Company	Correlation
SHMD	SCHMID Group N.V. Class A Ordinary Shares	0.70
GAM	General American Investors Company, Inc.	0.41
SIXZ	AllianzIM U.S. Equity 6 Month Buffer10 May/Nov ETF	0.34
UNOV	Innovator U.S. Equity Ultra Buffer ETF - NovemberPHARMACEUTICAL PREPARATIONS	0.30
WEYS	Weyco Group IncWHOLESALE-APPAREL, PIECE GOODS & NOTIONS	0.30

Most inversely correlated with SHMDW

Symbol	Company	Correlation
SPXS	Direxion Daily S&P 500 Bear 3x ETF	-0.25
DXD	ProShares UltraShort Dow 30	-0.24
SPXU	ProShares UltraPro Short S&P 500	-0.24
DOG	ProShares Short Dow30	-0.24
SDOW	ProShares UltraPro Short Dow 30	-0.24

Frequently asked questions about SHMDW correlations

Which stocks are most correlated with SHMDW?: Based on one year of daily returns, the stocks most correlated with SCHMID Group N.V. Warrants (SHMDW) are SHMD (0.70), GAM (0.41) and SIXZ (0.34). 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 SHMDW?: Over the past year, the stocks most inversely correlated with SCHMID Group N.V. Warrants (SHMDW) are SPXS (-0.25), DXD (-0.24) and SPXU (-0.24). 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 SHMDW correlations calculated?: We compute the correlation of daily returns between SHMDW 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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