Similar correlation stocks

Screening Filters

1. Market Cap: 300M–5B USD

   • Purpose: Match SKYQ’s size/risk profile.
   • Rationale:
     • SKYQ is a smaller-cap, higher-beta name. Stocks in the $300M–$5B range tend to behave more like “fast movers” than mega‑caps: they’re more sensitive to flows, sentiment, and single headlines.
     • Limiting to this band avoids very tiny microcaps (too illiquid / idiosyncratic) and very large caps (more stable, index‑driven), both of which would typically reduce correlation to SKYQ’s style of moves.

2. Beta: HighRisk

   • Purpose: Capture stocks that react strongly to market moves, like SKYQ.
   • Rationale:
     • A high beta means the stock tends to move more than the market on both up and down days. That’s a good proxy for “trades like a high‑octane risk asset,” which SKYQ clearly does judging by its technicals (very strong momentum, big recent moves).
     • While your question is about “correlation to SKYQ,” most retail screeners don’t compute pairwise correlations to a single ticker on the fly. Using high beta is a practical way to approximate a similar risk and behavior profile.

3. RSI Category: Overbought

   • Purpose: Find names in a similar technical state to SKYQ.
   • Rationale:
     • The data you provided shows SKYQ’s RSI_6 around 94, which is deeply overbought.
     • Screening for other overbought stocks ensures we’re looking at names that, like SKYQ, have experienced intense recent buying pressure and are extended on the upside.
     • This matters because short‑term correlation tends to be higher among stocks that are in the same momentum phase (e.g., all “parabolic” at the same time).

4. 1‑Month Price Change %: min 50%

   • Purpose: Target similarly explosive recent performers.
   • Rationale:
     • SKYQ’s technicals (very high RSI, bullish MACD, short MAs well above long MAs) suggest a sharp recent run‑up. A +50% or more move in a month captures a similar “recent surge” behavior.
     • Names that have all ripped 50%+ in a month tend to be driven by similar factors: speculative flows, momentum chasing, and “risk‑on” sentiment. Those factors often create clusters of correlated price action.

5. Sector: Software & IT Services / Technology / Technology Equipment / Telecommunications Services

   • Purpose: Keep candidates in the same broad macro/sector bucket as SKYQ.
   • Rationale:
     • SKYQ is a tech‑related stock (and trades like a speculative technology/communications name).
     • Stocks in tech/IT/telecom are exposed to similar drivers: growth expectations, rates/inflation sensitivity, AI/cloud/digital‑spend narratives, and risk‑on/risk‑off swings in the broader tech complex.
     • Names in the same or adjacent sectors generally show higher correlation than cross‑sector comparisons (e.g., versus utilities or staples), especially during strong thematic moves.

6. Exchange: XNYS / XNAS / XASE (NYSE, Nasdaq, NYSE American)

   • Purpose: Match trading environment, liquidity regime, and investor base.
   • Rationale:
     • SKYQ trades on a major U.S. exchange; limiting to NYSE/Nasdaq/NYSE American keeps you in the same regulatory, trading‑hours, and investor‑access universe.
     • This avoids OTC, foreign, or illiquid venues where stocks may move for idiosyncratic local reasons and not track U.S. tech sentiment closely, reducing the likelihood of a similar correlation pattern.

Why Results Match:

• The screen focuses on stocks that look like SKYQ in how they trade: smaller‑cap, high‑beta, tech‑related, with a recent explosive move and overbought momentum.
• While we’re not computing a strict statistical correlation to SKYQ’s price series, these filters capture the main drivers of correlation in practice:
  • same sector/macro themes (tech/IT/telecom),
  • similar size/risk (small–mid cap, high beta),
  • and similar technical regime (overbought, +50% month).
• As a result, the output list should consist of names that are more likely to move in a similar way to SKYQ under the same market conditions, which is the closest practical interpretation of “stocks that have a similar correlation to SKYQ” in a screener framework.