Which stocks are most correlated with SMHB?

Based on one year of daily returns, the stocks most correlated with ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN Series B (SMHB) are XSHD (0.72), VFVA (0.70) and FYT (0.70). 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 SMHB?

Over the past year, the stocks most inversely correlated with ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN Series B (SMHB) are HDGE (-0.63), DWSH (-0.61) and SBB (-0.59). A negative correlation means the two stocks have tended to move in opposite directions.

ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN Series B (SMHB) — Stock Correlations & Overview

Over the past year, SMHB has moved most closely with XSHD, VFVA, FYT. Explore the stocks most correlated and inversely correlated with SMHB below, along with its price, financials, and company profile.

Stocks correlated with SMHB

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

Most correlated with SMHB

Symbol	Company	Correlation
XSHD	Invesco S&P SmallCap High Dividend Low Volatility ETFINVESTMENT ADVICE	0.72
VFVA	Vanguard U.S. Value Factor ETF	0.70
FYT	First Trust Small Cap Value AlphaDEX Fund	0.70
DSMC	Distillate Small/Mid Cash Flow ETF	0.69
SQLV	Royce Quant Small-Cap Quality Value ETF	0.68

Most inversely correlated with SMHB

Symbol	Company	Correlation
HDGE	AdvisorShares Ranger Equity Bear ETF	-0.63
DWSH	AdvisorShares Dorsey Wright Short ETF	-0.61
SBB	ProShares Short SmallCap600	-0.59
SDD	ProShares UltraShort SmallCap600	-0.59
EMTY	ProShares Decline of the Retail Store ETF	-0.55

Frequently asked questions about SMHB correlations

Which stocks are most correlated with SMHB?: Based on one year of daily returns, the stocks most correlated with ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN Series B (SMHB) are XSHD (0.72), VFVA (0.70) and FYT (0.70). 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 SMHB?: Over the past year, the stocks most inversely correlated with ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN Series B (SMHB) are HDGE (-0.63), DWSH (-0.61) and SBB (-0.59). 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 SMHB correlations calculated?: We compute the correlation of daily returns between SMHB 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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