Invesco Rochester High Yield Municipal ETF (IROC) — Stock Correlations & Overview
Over the past year, IROC has moved most closely with BSMY, BSMU, PZA. Explore the stocks most correlated and inversely correlated with IROC below, along with its price, financials, and company profile.
Stocks correlated with IROC
Correlation of daily returns. Higher positive values move with IROC; negative values move opposite it. Informational only, not investment advice.
Most correlated with IROC
| Symbol | Company | Correlation |
|---|---|---|
| BSMY | Invesco BulletShares 2034 Municipal Bond ETF | 0.79 |
| BSMU | Invesco BulletShares 2030 Municipal Bond ETF | 0.76 |
| PZA | Invesco National AMT-Free Municipal Bond ETF | 0.76 |
| PWZ | Invesco California AMT-Free Municipal Bond ETFINVESTMENT ADVICE | 0.76 |
| BSMV | Invesco BulletShares 2031 Municipal Bond ETF | 0.74 |
Most inversely correlated with IROC
| Symbol | Company | Correlation |
|---|---|---|
| PST | ProShares Trust UltraShort Lehman 7-10 Year Treasury | -0.50 |
| TYO | Direxion Daily 7-10 Year Treasury Bear 3X ETF | -0.49 |
| TBX | ProShares Short 7-10 Year Treasury | -0.48 |
| TMV | Direxion Daily 20+ Year Treasury Bear 3X ETF | -0.48 |
| TBF | ProShares Short 20+ Year Treasury ETF | -0.48 |
Frequently asked questions about IROC correlations
- Which stocks are most correlated with IROC?
- Based on one year of daily returns, the stocks most correlated with Invesco Rochester High Yield Municipal ETF (IROC) are BSMY (0.79), BSMU (0.76) and PZA (0.76). 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 IROC?
- Over the past year, the stocks most inversely correlated with Invesco Rochester High Yield Municipal ETF (IROC) are PST (-0.50), TYO (-0.49) and TBX (-0.48). 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 IROC correlations calculated?
- We compute the correlation of daily returns between IROC 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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