Invesco S and P 500 BuyWrite ETF (PBP) — Stock Correlations & Overview
Over the past year, PBP has moved most closely with XYLD, XRMI, QYLD. Explore the stocks most correlated and inversely correlated with PBP below, along with its price, financials, and company profile.
Stocks correlated with PBP
Correlation of daily returns. Higher positive values move with PBP; negative values move opposite it. Informational only, not investment advice.
Most correlated with PBP
| Symbol | Company | Correlation |
|---|---|---|
| XYLD | Global X S&P 500 Covered Call ETF | 0.94 |
| XRMI | Global X S&P 500 Risk Managed Income ETF | 0.85 |
| QYLD | Global X Funds Global X NASDAQ-100 Covered Call ETF | 0.84 |
| QRMI | Global X NASDAQ 100 Risk Managed Income ETF | 0.83 |
| XTJA | Innovator U.S. Equity Accelerated Plus ETF - January | 0.82 |
Frequently asked questions about PBP correlations
- Which stocks are most correlated with PBP?
- Based on one year of daily returns, the stocks most correlated with Invesco S and P 500 BuyWrite ETF (PBP) are XYLD (0.94), XRMI (0.85) and QYLD (0.84). 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 PBP?
- Over the past year, the stocks most inversely correlated with Invesco S and P 500 BuyWrite ETF (PBP) are SPXS (-0.76), SDS (-0.76) and SPXU (-0.76). 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 PBP correlations calculated?
- We compute the correlation of daily returns between PBP 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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