Understanding methods of genetic estimations and implementing through appropriate way in wheat breeding can predicts the desirable and productive crosses which help plant breeder in selection of desirable and acceptable crosses for future selection strategy. The present study were conducted during winter 2013-14 and 2014-15 at Agricultural Research Station, Chitral, KP-Pakistan for the estimation of heterosis, heterobeltiosis, heritability, genetic advance, genotypic and phenotypic correlations. Analysis of variance showed highly significant differences for all the traits under consideration. Days to maturity and grain yield showed minimum (2.234%) and maximum (120.935%) phenotypic coefficient of variations (PCV). Similarly, days to maturity and grain yield showed lowest (1.907%) and highest (112.976%) genotypic coefficient of variation (GCV). Minimum (-29.573%) and maximum (97.253%) broad sense heritability were computed for 100-grain weight and biological yield. Lower limit (3.355%) and upper limit (217.41%) of genetic advance (GA) were computed for days to maturity and grain yield. Genetic correlation (rg) of grain per spike with grain weight per spike; grain yield with biological yield were highly significant and positive. Phenotypic correlation (rp) of 100-grain weight with grain weight per spike, biological yield with grain weight per spike and 100-grain weight and grain yield with biological yield were highly significant and positive. Highly significant but negative heterosis of direct crosses were recorded for biological yield and grain yield while same of reciprocal crosses were recorded for grain weight per spike, biological yield and grain yield. On the other hand, highly significant and positive heterobeltiosis of both direct and reciprocal crosses were achieved for days to heading and days to maturity while highly significant but negative heterosis over better parent were recorded by both direct and reciprocal crosses for plant height, grains per spike, grain weight per spike, 100-grain weight, biological yield and grain yield.