Defiance Daily Target 2X Long SOFI ETF (SOFX) — Stock Correlations & Overview
Over the past year, SOFX has moved most closely with SOFI, FINX, ARKF. Explore the stocks most correlated and inversely correlated with SOFX below, along with its price, financials, and company profile.
Stocks correlated with SOFX
Correlation of daily returns. Higher positive values move with SOFX; negative values move opposite it. Informational only, not investment advice.
Most correlated with SOFX
| Symbol | Company | Correlation |
|---|---|---|
| SOFI | SoFi Technologies, Inc. Common StockFINANCE SERVICES | 0.99 |
| FINX | Global X Funds Global X FinTech ETF | 0.74 |
| ARKF | ARK Blockchain & Fintech Innovation ETF | 0.73 |
| ARKW | ARK Next Generation Internet ETF | 0.71 |
| ARKK | ARK Innovation ETF | 0.71 |
Most inversely correlated with SOFX
| Symbol | Company | Correlation |
|---|---|---|
| SARK | Investment Managers Series Trust II Tradr 1X Short Innovation Daily ETF | -0.71 |
| SPXS | Direxion Daily S&P 500 Bear 3x ETF | -0.61 |
| AIBD | Direxion Daily AI and Big Data Bear 2X ETF | -0.61 |
| SDS | ProShares UltraShort S&P500 | -0.61 |
| SPXU | ProShares UltraPro Short S&P 500 | -0.61 |
Frequently asked questions about SOFX correlations
- Which stocks are most correlated with SOFX?
- Based on one year of daily returns, the stocks most correlated with Defiance Daily Target 2X Long SOFI ETF (SOFX) are SOFI (0.99), FINX (0.74) and ARKF (0.73). 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 SOFX?
- Over the past year, the stocks most inversely correlated with Defiance Daily Target 2X Long SOFI ETF (SOFX) are SARK (-0.71), SPXS (-0.61) and AIBD (-0.61). 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 SOFX correlations calculated?
- We compute the correlation of daily returns between SOFX 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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