Which stocks are most correlated with SMID?

Based on one year of daily returns, the stocks most correlated with Smith-Midland Corporation Common Stock (SMID) are XSHD (0.49), FDM (0.49) and SMLV (0.49). 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 SMID?

Over the past year, the stocks most inversely correlated with Smith-Midland Corporation Common Stock (SMID) are SDD (-0.43), SBB (-0.42) and SMDD (-0.37). A negative correlation means the two stocks have tended to move in opposite directions.

Smith-Midland Corporation Common Stock (SMID) — Stock Correlations & Overview

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

Stocks correlated with SMID

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

Most correlated with SMID

Symbol	Company	Correlation
XSHD	Invesco S&P SmallCap High Dividend Low Volatility ETFINVESTMENT ADVICE	0.49
FDM	First Trust Dow Jones Select MicroCap Index Fund	0.49
SMLV	State Street SPDR US Small Cap Low Volatility Index ETF	0.49
FYT	First Trust Small Cap Value AlphaDEX Fund	0.48
MYLD	Cambria Micro and SmallCap Shareholder Yield ETF	0.48

Most inversely correlated with SMID

Symbol	Company	Correlation
SDD	ProShares UltraShort SmallCap600	-0.43
SBB	ProShares Short SmallCap600	-0.42
SMDD	ProShares UltraPro Short MidCap400	-0.37
MZZ	ProShares UltraShort MidCap400	-0.37
MYY	ProShares Short MidCap400	-0.36

Frequently asked questions about SMID correlations

Which stocks are most correlated with SMID?: Based on one year of daily returns, the stocks most correlated with Smith-Midland Corporation Common Stock (SMID) are XSHD (0.49), FDM (0.49) and SMLV (0.49). 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 SMID?: Over the past year, the stocks most inversely correlated with Smith-Midland Corporation Common Stock (SMID) are SDD (-0.43), SBB (-0.42) and SMDD (-0.37). 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 SMID correlations calculated?: We compute the correlation of daily returns between SMID 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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