Looking to balance out your exposure to PAA? The ETFs below have the lowest correlation with PAA — they tend to move on their own, which can help reduce risk when PAA drops. The stock ideas table highlights individual companies that behave independently from PAA.
Best Diversifiers for PAA
13 ETFs have low correlation with PAA (below 0.3), 10 of which are negatively correlated. The least correlated is Vanguard S&P 500 Growth ETF (VOOG) (S&P 500) with a 1Y correlation of -0.17, down from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 Growth ETF | -0.17 | 0.12 | 0.25 | 58 | S&P 500, Large Cap Growth Equities | PAA vs VOOG | |
| iShares S&P 100 ETF | -0.15 | 0.15 | 0.29 | 64 | Large Cap Blend Equities | PAA vs OEF | |
| Vanguard FTSE Emerging Markets ETF | -0.12 | 0.16 | 0.26 | 56 | Emerging Markets Equities | PAA vs VWO | |
| First Trust Nasdaq BuyWrite Income ETF | -0.12 | 0.18 | 0.36 | 85 | Nasdaq-100, Derivative Income | PAA vs FTQI | |
| Vanguard S&P 500 ETF | -0.10 | 0.20 | 0.34 | 70 | S&P 500 | PAA vs VOO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PAA, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PAA and solid risk/return profiles. The least correlated is Northern Dynasty Minerals Ltd. (NAK) (Basic Materials) with a 1Y correlation of -0.19, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Northern Dynasty Minerals Ltd. | -0.19 | -0.02 | 0.09 | 65 | Basic Materials | |
| Silvercorp Metals Inc. | -0.19 | 0.08 | 0.18 | 91 | Basic Materials | |
| HSBC Holdings plc | -0.19 | 0.16 | 0.29 | 90 | Financial Services | |
| Hudbay Minerals Inc. | -0.18 | 0.17 | 0.30 | 94 | Basic Materials | |
| Fortuna Silver Mines Inc. | -0.16 | 0.09 | 0.20 | 62 | Basic Materials |
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Build a portfolio that complements PAA
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