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
14 ETFs have low correlation with PAA (below 0.3), 13 of which are negatively correlated. The least correlated is iShares S&P 100 ETF (OEF) (Large Cap Blend Equities) with a 1Y correlation of -0.16, down from 0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P 100 ETF | -0.16 | 0.14 | 0.28 | 50 | Large Cap Blend Equities | PAA vs OEF | |
| Fidelity Low Duration Bond Factor ETF | -0.14 | -0.03 | -0.03 | 98 | Short-Term Bond, Corporate Bonds | PAA vs FLDR | |
| First Trust Nasdaq BuyWrite Income ETF | -0.13 | 0.17 | 0.35 | 87 | Nasdaq-100, Derivative Income | PAA vs FTQI | |
| iShares 1-5 Year Investment Grade Corporate Bond E... | -0.12 | 0.04 | 0.05 | 73 | Corporate Bonds | PAA vs IGSB | |
| State Street SPDR S&P 500 ETF | -0.11 | 0.20 | 0.34 | 60 | S&P 500 | PAA vs SPY |
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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 HSBC Holdings plc (HSBC) (Financial Services) with a 1Y correlation of -0.18, down from 0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| HSBC Holdings plc | -0.18 | 0.14 | 0.28 | 90 | Financial Services | |
| Hudbay Minerals Inc. | -0.17 | 0.16 | 0.30 | 88 | Basic Materials | |
| Fortuna Silver Mines Inc. | -0.17 | 0.09 | 0.19 | 59 | Basic Materials | |
| NVIDIA Corporation | -0.15 | 0.07 | 0.19 | 70 | Technology | |
| Silvercorp Metals Inc. | -0.15 | 0.08 | 0.18 | 88 | Basic Materials |
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Build a portfolio that complements PAA
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