Looking to balance out your exposure to PAAS? The ETFs below have the lowest correlation with PAAS — they tend to move on their own, which can help reduce risk when PAAS drops. The stock ideas table highlights individual companies that behave independently from PAAS.
Best Diversifiers for PAAS
13 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 -0.03, down from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Energy Select Sector SPDR ETF | -0.03 | 0.12 | 0.22 | 50 | Energy Equities | PAAS vs XLE | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | 0.04 | 0.00 | 0.02 | 100 | Government Bonds, Ultrashort Bond | PAAS vs BIL | |
| Panagram BBB-B CLO ETF | 0.10 | 0.03 | — | 57 | CLO | PAAS vs CLOZ | |
| iShares 0-5 Year TIPS Bond ETF | 0.13 | 0.19 | 0.29 | 91 | Inflation-Protected Bonds | PAAS vs STIP | |
| Schwab U.S. Dividend Equity ETF | 0.17 | 0.18 | 0.24 | 86 | Dividend | PAAS vs SCHD |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PAAS, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PAAS and solid risk/return profiles. The least correlated is Vista Oil & Gas, S.A.B. de C.V. (VIST) (Energy) with a 1Y correlation of -0.13, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Vista Oil & Gas, S.A.B. de C.V. | -0.13 | 0.12 | 0.19 | 72 | Energy | |
| Chubb Limited | -0.10 | -0.03 | 0.05 | 86 | Financial Services | |
| Altria Group, Inc. | -0.09 | -0.02 | 0.07 | 81 | Consumer Defensive | |
| The Travelers Companies, Inc. | -0.08 | -0.00 | 0.05 | 91 | Financial Services | |
| ONEOK, Inc. | -0.07 | 0.09 | 0.21 | 65 | Energy |
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