Toyota Motor Corporation ADRhedged (TMH) — Stock Correlations & Overview
Over the past year, TMH has moved most closely with TM, HMC, DXJ. Explore the stocks most correlated and inversely correlated with TMH below, along with its price, financials, and company profile.
Stocks correlated with TMH
Correlation of daily returns. Higher positive values move with TMH; negative values move opposite it. Informational only, not investment advice.
Most correlated with TMH
| Symbol | Company | Correlation |
|---|---|---|
| TM | Toyota Motor Corporation American Depositary Shares (Each representing ten Ordinary Shares) | 0.90 |
| HMC | Honda Motor Co., Ltd. American Depositary Share, each representing three (3) shares of Common Stock | 0.66 |
| DXJ | WisdomTree Japan Hedged Equity Fund | 0.61 |
| EWJV | iShares MSCI Japan Value ETF | 0.56 |
| DBJP | Xtrackers MSCI Japan Hedged Equity ETF | 0.55 |
Most inversely correlated with TMH
| Symbol | Company | Correlation |
|---|---|---|
| CARD | MAX Auto Industry -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.41 |
| EWV | ProShares Trust UltraShort MSCI Japan | -0.41 |
| EFZ | ProShares Trust Short MSCI EAFE | -0.40 |
| EFU | ProShares Trust UltraShort MSCI EAFE | -0.39 |
| SMDD | ProShares UltraPro Short MidCap400 | -0.39 |
Frequently asked questions about TMH correlations
- Which stocks are most correlated with TMH?
- Based on one year of daily returns, the stocks most correlated with Toyota Motor Corporation ADRhedged (TMH) are TM (0.90), HMC (0.66) and DXJ (0.61). 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 TMH?
- Over the past year, the stocks most inversely correlated with Toyota Motor Corporation ADRhedged (TMH) are CARD (-0.41), EWV (-0.41) and EFZ (-0.40). 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 TMH correlations calculated?
- We compute the correlation of daily returns between TMH 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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