PIE Invesco Exchange-Traded Fund Trust II Invesco Dorsey Wright Emerging Markets Momentum ETF

Last close: 27.88
504-day return: +45.21%
Median $/day: $525k
Relationships shown: 13
Leader rank: #498

together opposite · bar = ρ at each lag, −10 … 0 … +10 days · holdout ρ · click a card for the full picture

PIE vs FEM

Both indexed to 100 at 2026-05-11.

PIE FEM · range 87–112 · 2026-05-11 → 2026-11-06

Follows PIE

These tend to repeat PIE's moves later.

CHW Calamos Global Dynamic Income Fund Common Stock

lag 1dρ +0.21holdout +0.27stable 88%$/day $1.1Mrobust

Moves with PIE

Same day, ranked by what's left after the market and sector factors are removed ("beyond mkt").

FEM First Trust Emerging Markets AlphaDEX Fund

ρ +0.80beyond mkt +0.51holdout +0.90stable 100%robust

EWX State Street SPDR S&P Emerging Markets Small Cap ETF

ρ +0.81beyond mkt +0.50holdout +0.89stable 100%robust

EWT iShares MSCI Taiwan ETF

ρ +0.79beyond mkt +0.47holdout +0.90stable 100%robust

DGS WisdomTree Emerging Markets SmallCap Dividend Fund

ρ +0.79beyond mkt +0.44holdout +0.85stable 100%robust

BBCP Concrete Pumping Holdings, Inc. Common Stock

ρ +0.32beyond mkt +0.12holdout +0.39stable 88%robust

CHW Calamos Global Dynamic Income Fund Common Stock

ρ +0.59beyond mkt +0.08holdout +0.64stable 100%robust

Moves against PIE

BTAL AGF U.S. Market Neutral Anti-Beta Fund

ρ -0.57beyond mkt +0.09holdout -0.71stable 100%robust

VXX iPath Series B S&P 500 VIX Short-Term Futures ETN

ρ -0.49beyond mkt +0.07holdout -0.55stable 100%robust

VIXM ProShares VIX Mid-Term Futures ETF

ρ -0.42beyond mkt +0.03holdout -0.46stable 100%robust

TAIL Cambria Tail Risk ETF

ρ -0.42beyond mkt +0.02holdout -0.48stable 88%robust

Weekly, not daily

No day-to-day relationship, but 5- or 10-day returns move together.

BWMN Bowman Consulting Group Ltd. Common Stock

horizon 10dρ +0.42holdout +0.55stable 75%robust

ROKU Roku, Inc. Class A Common Stock

horizon 10dρ +0.37holdout +0.49stable 88%robust

Changed this quarter

Biggest shifts in same-day correlation over the last 63 trading days versus the year before.

TPR Tapestry, Inc. Common Stock

Δ -0.61recent -0.24prior +0.37beyond mkt -0.00

MOTI VanEck Morningstar International Moat ETF

Δ -0.60recent -0.12prior +0.48beyond mkt -0.04

BINV Brandes International ETF

Δ -0.57recent -0.06prior +0.50beyond mkt -0.08

ROKU Roku, Inc. Class A Common Stock

Δ -0.56recent -0.21prior +0.35beyond mkt -0.01

BWMN Bowman Consulting Group Ltd. Common Stock

Δ -0.55recent -0.23prior +0.32beyond mkt -0.08

ONEY State Street SPDR Russell 1000 Yield Focus ETF

Δ -0.52recent -0.22prior +0.31beyond mkt -0.05

Hidden links

Strong beyond-the-market co-movement with few shared neighbours.

Symbol	beyond mkt	raw ρ	shared
EWT iShares MSCI Taiwan ETF	+0.47	+0.79	13
FEM First Trust Emerging Markets AlphaDEX Fund	+0.51	+0.80	18
DGS WisdomTree Emerging Markets SmallCap Dividend Fund	+0.44	+0.79	17
EWX State Street SPDR S&P Emerging Markets Small Cap ETF	+0.50	+0.81	22