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), 12 of which are negatively correlated. The least correlated is iShares S&P 100 ETF (OEF) (Large Cap Blend Equities) with a 1Y correlation of -0.20, 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 | -0.20 | 0.13 | 0.28 | 56 | Large Cap Blend Equities | PAA vs OEF | |
| iShares 1-5 Year Investment Grade Corporate Bond E... | -0.18 | 0.01 | 0.04 | 80 | Corporate Bonds | PAA vs IGSB | |
| First Trust Nasdaq BuyWrite Income ETF | -0.17 | 0.15 | 0.33 | 91 | Nasdaq-100, Derivative Income | PAA vs FTQI | |
| Fidelity Low Duration Bond Factor ETF | -0.16 | -0.04 | -0.04 | 98 | Short-Term Bond, Corporate Bonds | PAA vs FLDR | |
| Vanguard S&P 500 ETF | -0.16 | 0.18 | 0.32 | 66 | 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 Hudbay Minerals Inc. (HBM) (Basic Materials) with a 1Y correlation of -0.20, down from 0.30 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Hudbay Minerals Inc. | -0.20 | 0.14 | 0.30 | 85 | Basic Materials | |
| Fortuna Silver Mines Inc. | -0.20 | 0.07 | 0.18 | 60 | Basic Materials | |
| HSBC Holdings plc | -0.18 | 0.13 | 0.27 | 94 | Financial Services | |
| Silvercorp Metals Inc. | -0.18 | 0.06 | 0.17 | 78 | Basic Materials | |
| ASE Technology Holding Co., Ltd. | -0.18 | 0.10 | 0.18 | 99 | Technology |
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Build a portfolio that complements PAA
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