Looking to balance out your exposure to PAAS? The ETFs below have historically moved differently from PAAS, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for PAAS
10 ETFs have low correlation with PAAS (below 0.3), 1 of which are negatively correlated. The least correlated is State Street Energy Select Sector SPDR ETF (XLE) (Energy Equities) with a 1Y correlation of -0.05, down from 0.21 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Energy Select Sector SPDR ETF | -0.05 | 0.10 | 0.21 | 76 | Energy Equities | PAAS vs XLE | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | 0.04 | 0.01 | 0.02 | 100 | Government Bonds, Ultrashort Bond | PAAS vs BIL | |
| Eldridge BBB-B CLO ETF | 0.12 | 0.03 | — | 63 | CLO | PAAS vs CLOZ | |
| iShares 0-5 Year TIPS Bond ETF | 0.13 | 0.19 | 0.28 | 93 | Inflation-Protected Bonds | PAAS vs STIP | |
| Schwab U.S. Dividend Equity ETF | 0.13 | 0.16 | 0.23 | 95 | Dividend | PAAS vs SCHD |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PAAS, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Chubb Limited (CB) (Financial Services) with a 1Y correlation of -0.16, down from 0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chubb Limited | -0.16 | -0.03 | 0.04 | 89 | Financial Services | |
| Altria Group, Inc. | -0.15 | -0.04 | 0.06 | 66 | Consumer Defensive | |
| The Travelers Companies, Inc. | -0.10 | -0.00 | 0.04 | 94 | Financial Services | |
| The Coca-Cola Company | -0.10 | -0.01 | 0.07 | 90 | Consumer Defensive | |
| ONEOK, Inc. | -0.10 | 0.08 | 0.20 | 63 | Energy |
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