Invesco Leisure and Entertainment ETF (PEJ) — Stock Correlations & Overview
Over the past year, PEJ has moved most closely with FLYU, RSPD, FXD. Explore the stocks most correlated and inversely correlated with PEJ below, along with its price, financials, and company profile.
Stocks correlated with PEJ
Correlation of daily returns. Higher positive values move with PEJ; negative values move opposite it. Informational only, not investment advice.
Most correlated with PEJ
| Symbol | Company | Correlation |
|---|---|---|
| FLYU | MicroSectors Travel 3x Leveraged ETNCOMMERCIAL BANKS, NEC | 0.86 |
| RSPD | Invesco S&P 500 Equal Weight Consumer Discretionary ETF | 0.85 |
| FXD | First Trust Consumer Discretionary AlphaDEX Fund | 0.85 |
| PEZ | Invesco Exchange-Traded Fund Trust Invesco Dorsey Wright Consumer Cyclicals Momentum ETF | 0.81 |
| SPGP | Invesco S&P 500 GARP ETF | 0.79 |
Most inversely correlated with PEJ
| Symbol | Company | Correlation |
|---|---|---|
| FLYD | MicroSectors Travel -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.86 |
| JETD | MAX Airlines -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.69 |
| SBB | ProShares Short SmallCap600 | -0.68 |
| SDD | ProShares UltraShort SmallCap600 | -0.68 |
| SMDD | ProShares UltraPro Short MidCap400 | -0.68 |
Frequently asked questions about PEJ correlations
- Which stocks are most correlated with PEJ?
- Based on one year of daily returns, the stocks most correlated with Invesco Leisure and Entertainment ETF (PEJ) are FLYU (0.86), RSPD (0.85) and FXD (0.85). 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 PEJ?
- Over the past year, the stocks most inversely correlated with Invesco Leisure and Entertainment ETF (PEJ) are FLYD (-0.86), JETD (-0.69) and SBB (-0.68). 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 PEJ correlations calculated?
- We compute the correlation of daily returns between PEJ 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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