Which stocks are most correlated with WMG?

Based on one year of daily returns, the stocks most correlated with Warner Music Group Corp. Class A Common Stock (WMG) are MUSQ (0.56), RSPC (0.45) and CPRT (0.44). 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 WMG?

Over the past year, the stocks most inversely correlated with Warner Music Group Corp. Class A Common Stock (WMG) are HDGE (-0.37), DRV (-0.31) and REK (-0.31). A negative correlation means the two stocks have tended to move in opposite directions.

Warner Music Group Corp. Class A Common Stock (WMG) — Stock Correlations & Overview

Over the past year, WMG has moved most closely with MUSQ, RSPC, CPRT. Explore the stocks most correlated and inversely correlated with WMG below, along with its price, financials, and company profile.

Stocks correlated with WMG

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

Most correlated with WMG

Symbol	Company	Correlation
MUSQ	MUSQ Global Music Industry Index ETF	0.56
RSPC	Invesco Exchange-Traded Fund Trust Invesco S&P 500 Equal Weight Communication Services ETF	0.45
CPRT	Copart IncRETAIL-AUTO DEALERS & GASOLINE STATIONS	0.44
EFX	Equifax, IncorporatedSERVICES-CONSUMER CREDIT REPORTING, COLLECTION AGENCIES	0.43
PID	Invesco International Dividend Achievers ETF	0.42

Most inversely correlated with WMG

Symbol	Company	Correlation
HDGE	AdvisorShares Ranger Equity Bear ETF	-0.37
DRV	Direxion Daily Real Estate Bear 3X ETF	-0.31
REK	ProShares Short Real Estate	-0.31
SRS	ProShares UltraShort Real Estate	-0.31
FLYD	MicroSectors Travel -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC	-0.29

Frequently asked questions about WMG correlations

Which stocks are most correlated with WMG?: Based on one year of daily returns, the stocks most correlated with Warner Music Group Corp. Class A Common Stock (WMG) are MUSQ (0.56), RSPC (0.45) and CPRT (0.44). 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 WMG?: Over the past year, the stocks most inversely correlated with Warner Music Group Corp. Class A Common Stock (WMG) are HDGE (-0.37), DRV (-0.31) and REK (-0.31). 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 WMG correlations calculated?: We compute the correlation of daily returns between WMG 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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