PJP Invesco Pharmaceuticals ETF

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

PJP vs IHE

Both indexed to 100 at 2026-05-11.

PJP IHE · range 100–126 · 2026-05-11 → 2026-11-06

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

IHE iShares U.S. Pharmaceuticals ETF

ρ +0.89beyond mkt +0.67holdout +0.93stable 100%robust

PPH VanEck Pharmaceutical ETF

ρ +0.82beyond mkt +0.56holdout +0.86stable 100%robust

XPH State Street SPDR S&P Pharmaceuticals ETF

ρ +0.83beyond mkt +0.55holdout +0.77stable 100%robust

XLV State Street Health Care Select Sector SPDR ETF

ρ +0.81beyond mkt +0.51holdout +0.85stable 100%robust

HRTS Tema ETF Trust Tema Heart & Health ETF

ρ +0.83beyond mkt +0.46holdout +0.89stable 100%robust

IBB iShares Biotechnology ETF

ρ +0.81beyond mkt +0.45holdout +0.80stable 100%robust

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

ρ -0.36beyond mkt +0.02holdout -0.28stable 88%robust

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

JEMB Janus Henderson Emerging Markets Debt Hard Currency ETF

horizon 10dρ +0.43holdout +0.57stable 88%robust

CTNM Contineum Therapeutics, Inc. Class A Common Stock

horizon 10dρ +0.36holdout +0.47stable 88%robust

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

VMI Valmont Industries, Inc.

Δ -0.67recent -0.37prior +0.30beyond mkt -0.05

MTRN Materion Corporation

Δ -0.58recent -0.24prior +0.34beyond mkt +0.01

GRC The Gorman-Rupp Company Common Shares

Δ -0.58recent -0.19prior +0.38beyond mkt +0.07

BTA Beacon Tactical Alternatives Risk ETF

Δ -0.58recent -0.40prior +0.18beyond mkt -0.01

NPKI NPK International Inc.

Δ -0.54recent -0.32prior +0.22beyond mkt -0.01

QVMT Invesco S&P 500 Concentrated QVM ETF

Δ -0.54recent -0.10prior +0.44beyond mkt -0.05

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

Symbol	beyond mkt	raw ρ	shared
XPH State Street SPDR S&P Pharmaceuticals ETF	+0.55	+0.83	10
FBT First Trust NYSE Arca Biotechnology Index Fund	+0.44	+0.77	13
IBB iShares Biotechnology ETF	+0.45	+0.81	14
PBE Invesco Biotechnology & Genome ETF	+0.45	+0.80	14
FXH First Trust Health Care AlphaDEX Fund	+0.38	+0.77	13
HRTS Tema ETF Trust Tema Heart & Health ETF	+0.46	+0.83	16