Invesco Energy Exploration & Production ETF (PXE) — Stock Correlations & Overview
Over the past year, PXE has moved most closely with XOP, GUSH, IEO. Explore the stocks most correlated and inversely correlated with PXE below, along with its price, financials, and company profile.
Stocks correlated with PXE
Correlation of daily returns. Higher positive values move with PXE; negative values move opposite it. Informational only, not investment advice.
Most correlated with PXE
| Symbol | Company | Correlation |
|---|---|---|
| XOP | State Street SPDR S&P Oil & Gas Exploration & Production ETF | 0.99 |
| GUSH | Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF | 0.99 |
| IEO | iShares U.S. Oil & Gas Exploration & Production ETF | 0.98 |
| FCG | First Trust Natural Gas ETF | 0.96 |
| FXN | First Trust Energy AlphaDEX Fund | 0.95 |
Most inversely correlated with PXE
| Symbol | Company | Correlation |
|---|---|---|
| DRIP | Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF | -0.99 |
| WTID | MicroSectors Energy -3x Inverse Leveraged ETNsCOMMERCIAL BANKS, NEC | -0.94 |
| NRGD | MicroSectors U.S. Big Oil -3x Inverse Leveraged ETNs due February 17, 2045COMMERCIAL BANKS, NEC | -0.93 |
| OILD | MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.92 |
| ERY | Direxion Daily Energy Bear 2X ETF | -0.90 |
Frequently asked questions about PXE correlations
- Which stocks are most correlated with PXE?
- Based on one year of daily returns, the stocks most correlated with Invesco Energy Exploration & Production ETF (PXE) are XOP (0.99), GUSH (0.99) and IEO (0.98). 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 PXE?
- Over the past year, the stocks most inversely correlated with Invesco Energy Exploration & Production ETF (PXE) are DRIP (-0.99), WTID (-0.94) and NRGD (-0.93). 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 PXE correlations calculated?
- We compute the correlation of daily returns between PXE 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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