Looking to balance out your exposure to P? The ETFs below have the lowest correlation with P — they tend to move on their own, which can help reduce risk when P drops. The stock ideas table highlights individual companies that behave independently from P.
Best Diversifiers for P
1 ETFs have low correlation with P (below 0.3), 0 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Palmer Square Credit Opportunities ETF | 0.09 | — | — | 96 | Multisector Bonds | P vs PSQO | |
| Vanguard Dividend Appreciation ETF | 0.41 | 0.42 | 0.48 | 54 | Dividend | P vs VIG | |
| Global X S&P 500 Tail Risk ETF | 0.56 | 0.59 | — | 52 | Equity Hedged, S&P 500 | P vs XTR | |
| Vanguard S&P 500 ETF | 0.58 | 0.59 | 0.62 | 59 | S&P 500 | P vs VOO | |
| State Street SPDR S&P 500 ETF | 0.58 | 0.60 | 0.62 | 59 | S&P 500 | P vs SPY |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from P, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to P and solid risk/return profiles. The least correlated is The TJX Companies, Inc. (TJX) (Consumer Cyclical) with a 1Y correlation of -0.18, down from 0.23 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The TJX Companies, Inc. | -0.18 | 0.08 | 0.23 | 86 | Consumer Cyclical | |
| Eli Lilly and Company | -0.01 | 0.16 | 0.16 | 74 | Healthcare | |
| Primerica, Inc. | 0.01 | 0.17 | 0.30 | 52 | Financial Services | |
| Elbit Systems Ltd | 0.02 | 0.07 | 0.15 | 84 | Industrials | |
| Enterprise Products Partners L.P. | 0.02 | 0.07 | 0.15 | 85 | Energy |
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