One of the best ways to do this is with the PowerShares Global Clean Energy Portfolio ( PBD). The fund tracks the WilderHill New Energy Global Innovation Index, which lists companies that focus on greener, generally renewable sources of energy and technologies that facilitate cleaner energy production. In total, the fund invests in nearly 100 companies, with a heavy concentration in industrials, utilities and IT firms. This approach could be ideal for some investors because, unlike other funds in the alternative-energy space, this fund will benefit no matter which technology wins out. Many of the fund's top components do not invest in alternative fuels at all but, instead, invest in companies that are finding ways to make current processes "greener" and more energy efficient. These companies, such as Universal Display Corp. ( PANL) and Meyer Burger Technology AG, could be great investments even if solar and wind power do not take off the way many are expecting. This approach could potentially take out some of the volatility that is associated with solar and wind power and allow investors to benefit from technological innovation instead of the often-politicized process of the energy world. For investors seeking a broad way to invest in the clean-energy market with less of the politics and none of the worries about which power will ultimately win out, PBD could make an excellent choice. In fact, the fund has outperformed all the other broad ETFs in the category this year, save one: iShares S&P Global Clean Energy Index ( ICLN). The ICLN, however, has a beta that's higher than PowerShares' product and short-term volatility readings, which are far higher than PBD's, suggesting that over the long-term, PBD could be the way to go for investors who seek a fund that invests in cleaner and greener technologies but with minimal volatility levels.
In trading on Friday, shares of the PowerShares Global Clean Energy Portfolio ETF entered into oversold territory, changing hands as low as $11.4401 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100.