Looking to balance out your exposure to GPMT? The ETFs below have the lowest correlation with GPMT — they tend to move on their own, which can help reduce risk when GPMT drops. The stock ideas table highlights individual companies that behave independently from GPMT.
Best Diversifiers for GPMT
2 ETFs have low correlation with GPMT (below 0.3), 0 of which are negatively correlated. The least correlated is Global X NASDAQ 100 Covered Call ETF (QYLD) (Nasdaq-100) with a 1Y correlation of 0.21, down from 0.34 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X NASDAQ 100 Covered Call ETF | 0.21 | 0.25 | 0.34 | 89 | Nasdaq-100, Derivative Income | GPMT vs QYLD | |
| JPMorgan Nasdaq Equity Premium Income ETF | 0.26 | 0.27 | 0.35 | 76 | Nasdaq-100, Derivative Income | GPMT vs JEPQ |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from GPMT, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to GPMT and solid risk/return profiles. The least correlated is Energy Transfer LP (ET) (Energy) with a 1Y correlation of 0.00, down from 0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Energy Transfer LP | 0.00 | 0.19 | 0.27 | 74 | Energy | |
| Petróleo Brasileiro S.A. - Petrobras | 0.02 | 0.10 | 0.14 | 88 | Energy | |
| ARMOUR Residential REIT, Inc. | 0.21 | 0.39 | 0.47 | 69 | Real Estate | |
| Eaton Vance Tax-Managed Buy-Write Opportunities Fu... | 0.22 | 0.31 | 0.36 | 81 | Financial Services | |
| Dynex Capital, Inc. | 0.24 | 0.44 | 0.51 | 77 | Real Estate |
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