Direxion Daily SHOP Bull 2X ETF (SHPU) — Stock Correlations & Overview
Over the past year, SHPU has moved most closely with SHOP, BUYZ, PNQI. Explore the stocks most correlated and inversely correlated with SHPU below, along with its price, financials, and company profile.
Stocks correlated with SHPU
Correlation of daily returns. Higher positive values move with SHPU; negative values move opposite it. Informational only, not investment advice.
Most correlated with SHPU
| Symbol | Company | Correlation |
|---|---|---|
| SHOP | Shopify Inc. Class A subordinate voting sharesSERVICES-PREPACKAGED SOFTWARE | 0.99 |
| BUYZ | Franklin Disruptive Commerce ETF | 0.73 |
| PNQI | Invesco NASDAQ Internet ETF | 0.71 |
| OGIG | ALPS O'Shares Global Internet Giants ETF | 0.68 |
| ARKF | ARK Blockchain & Fintech Innovation ETF | 0.67 |
Most inversely correlated with SHPU
| Symbol | Company | Correlation |
|---|---|---|
| WEBS | Direxion Daily Dow Jones Internet Bear 3X ETF | -0.62 |
| SARK | Investment Managers Series Trust II Tradr 1X Short Innovation Daily ETF | -0.53 |
| HDGE | AdvisorShares Ranger Equity Bear ETF | -0.52 |
| FLYD | MicroSectors Travel -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.47 |
| FNGD | MicroSectors FANG+ Index -3X Inverse Leveraged ETNs due January 8, 2038COMMERCIAL BANKS, NEC | -0.45 |
Frequently asked questions about SHPU correlations
- Which stocks are most correlated with SHPU?
- Based on one year of daily returns, the stocks most correlated with Direxion Daily SHOP Bull 2X ETF (SHPU) are SHOP (0.99), BUYZ (0.73) and PNQI (0.71). 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 SHPU?
- Over the past year, the stocks most inversely correlated with Direxion Daily SHOP Bull 2X ETF (SHPU) are WEBS (-0.62), SARK (-0.53) and HDGE (-0.52). 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 SHPU correlations calculated?
- We compute the correlation of daily returns between SHPU 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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