Invesco International Corporate Bond ETF (PICB) — Stock Correlations & Overview
Over the past year, PICB has moved most closely with IGOV, IBND, BWX. Explore the stocks most correlated and inversely correlated with PICB below, along with its price, financials, and company profile.
Stocks correlated with PICB
Correlation of daily returns. Higher positive values move with PICB; negative values move opposite it. Informational only, not investment advice.
Most correlated with PICB
| Symbol | Company | Correlation |
|---|---|---|
| IGOV | iShares International Treasury Bond ETF | 0.92 |
| IBND | State Street SPDR Bloomberg International Corporate Bond ETF | 0.92 |
| BWX | State Street SPDR Bloomberg International Treasury Bond ETF | 0.91 |
| ISHG | iShares 1-3 Year International Treasury Bond ETF | 0.90 |
| FXE | Invesco CurrencyShares Euro Currency TrustCOMMODITY CONTRACTS BROKERS & DEALERS | 0.84 |
Most inversely correlated with PICB
| Symbol | Company | Correlation |
|---|---|---|
| EUO | ProShares UltraShort EuroCOMMODITY CONTRACTS BROKERS & DEALERS | -0.82 |
| EPV | ProShares UltraShort FTSE Europe | -0.76 |
| UUP | Invesco DB US Dollar Index Bullish FundCOMMODITY CONTRACTS BROKERS & DEALERS | -0.73 |
| EFU | ProShares Trust UltraShort MSCI EAFE | -0.71 |
| EFZ | ProShares Trust Short MSCI EAFE | -0.70 |
Frequently asked questions about PICB correlations
- Which stocks are most correlated with PICB?
- Based on one year of daily returns, the stocks most correlated with Invesco International Corporate Bond ETF (PICB) are IGOV (0.92), IBND (0.92) and BWX (0.91). 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 PICB?
- Over the past year, the stocks most inversely correlated with Invesco International Corporate Bond ETF (PICB) are EUO (-0.82), EPV (-0.76) and UUP (-0.73). 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 PICB correlations calculated?
- We compute the correlation of daily returns between PICB 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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