Direxion Daily Dow Jones Internet Bear 3X ETF (WEBS) — Stock Correlations & Overview
Over the past year, WEBS has moved most closely with FNGD, QQQD, AIBD. Explore the stocks most correlated and inversely correlated with WEBS below, along with its price, financials, and company profile.
Stocks correlated with WEBS
Correlation of daily returns. Higher positive values move with WEBS; negative values move opposite it. Informational only, not investment advice.
Most correlated with WEBS
| Symbol | Company | Correlation |
|---|---|---|
| FNGD | MicroSectors FANG+ Index -3X Inverse Leveraged ETNs due January 8, 2038COMMERCIAL BANKS, NEC | 0.78 |
| QQQD | Direxion Daily Magnificent 7 Bear 1X ETF | 0.77 |
| AIBD | Direxion Daily AI and Big Data Bear 2X ETF | 0.74 |
| SDS | ProShares UltraShort S&P500 | 0.74 |
| SPXS | Direxion Daily S&P 500 Bear 3x ETF | 0.74 |
Most inversely correlated with WEBS
| Symbol | Company | Correlation |
|---|---|---|
| FDN | First Trust Dow Jones Internet Index Fund ETF | -1.00 |
| WEBL | Direxion Daily Dow Jones Internet Bull 3X ETF | -1.00 |
| FDND | FT Vest Dow Jones Internet & Target Income ETF | -0.99 |
| OGIG | ALPS O'Shares Global Internet Giants ETF | -0.91 |
| PNQI | Invesco NASDAQ Internet ETF | -0.88 |
Frequently asked questions about WEBS correlations
- Which stocks are most correlated with WEBS?
- Based on one year of daily returns, the stocks most correlated with Direxion Daily Dow Jones Internet Bear 3X ETF (WEBS) are FNGD (0.78), QQQD (0.77) and AIBD (0.74). 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 WEBS?
- Over the past year, the stocks most inversely correlated with Direxion Daily Dow Jones Internet Bear 3X ETF (WEBS) are FDN (-1.00), WEBL (-1.00) and FDND (-0.99). 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 WEBS correlations calculated?
- We compute the correlation of daily returns between WEBS 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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