Which stocks are most correlated with PDP?

Based on one year of daily returns, the stocks most correlated with Invesco Exchange-Traded Fund Trust Invesco Dorsey Wright Momentum ETF (PDP) are PRN (0.95), VFMO (0.95) and FTC (0.94). 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 PDP?

Over the past year, the stocks most inversely correlated with Invesco Exchange-Traded Fund Trust Invesco Dorsey Wright Momentum ETF (PDP) are HIBS (-0.89), SOXS (-0.87) and BTAL (-0.85). A negative correlation means the two stocks have tended to move in opposite directions.

Invesco Exchange-Traded Fund Trust Invesco Dorsey Wright Momentum ETF (PDP) — Stock Correlations & Overview

Over the past year, PDP has moved most closely with PRN, VFMO, FTC. Explore the stocks most correlated and inversely correlated with PDP below, along with its price, financials, and company profile.

Stocks correlated with PDP

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

Most correlated with PDP

Symbol	Company	Correlation
PRN	Invesco Exchange-Traded Fund Trust Invesco Dorsey Wright Industrials Momentum ETF	0.95
VFMO	Vanguard U.S. Momentum Factor ETF	0.95
FTC	First Trust Large Cap Growth AlphaDEX Fund (based on the Defined Large Cap Growth Index--symbol DEFILGOI)	0.94
FAD	First Trust Multi Cap Growth AlphaDEX Fund	0.93
FWD	AB Disruptors ETF	0.93

Most inversely correlated with PDP

Symbol	Company	Correlation
HIBS	Direxion Daily S&P 500 High Beta Bear 3X ETF	-0.89
SOXS	Direxion Daily Semiconductor Bear 3X ETF	-0.87
BTAL	AGF U.S. Market Neutral Anti-Beta Fund	-0.85
TSXD	Direxion Daily Semiconductors Top 5 Bear 2X ETF	-0.83
TECS	Direxion Daily Technology Bear 3x ETF	-0.83

Frequently asked questions about PDP correlations

Which stocks are most correlated with PDP?: Based on one year of daily returns, the stocks most correlated with Invesco Exchange-Traded Fund Trust Invesco Dorsey Wright Momentum ETF (PDP) are PRN (0.95), VFMO (0.95) and FTC (0.94). 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 PDP?: Over the past year, the stocks most inversely correlated with Invesco Exchange-Traded Fund Trust Invesco Dorsey Wright Momentum ETF (PDP) are HIBS (-0.89), SOXS (-0.87) and BTAL (-0.85). 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 PDP correlations calculated?: We compute the correlation of daily returns between PDP 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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