Looking to balance out your exposure to PAM? The ETFs below have the lowest correlation with PAM — they tend to move on their own, which can help reduce risk when PAM drops. The stock ideas table highlights individual companies that behave independently from PAM.
Best Diversifiers for PAM
7 ETFs have low correlation with PAM (below 0.3), 1 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.19, down from -0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.19 | -0.05 | -0.04 | 100 | Ultrashort Bond | PAM vs SGOV | |
| iShares Silver Trust | 0.01 | 0.10 | 0.15 | 51 | Silver, Precious Metals | PAM vs SLV | |
| State Street SPDR Dow Jones Industrial Average ETF... | 0.14 | 0.19 | 0.26 | 56 | Large Cap Blend Equities | PAM vs DIA | |
| Invesco QQQ ETF | 0.17 | 0.26 | 0.25 | 74 | Nasdaq-100 | PAM vs QQQ | |
| State Street SPDR S&P 500 ETF | 0.19 | 0.28 | 0.30 | 74 | S&P 500 | PAM vs SPY |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PAM, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PAM and solid risk/return profiles. The least correlated is RenaissanceRe Holdings Ltd. (RNR) (Financial Services) with a 1Y correlation of -0.07, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| RenaissanceRe Holdings Ltd. | -0.07 | 0.07 | 0.12 | 60 | Financial Services | |
| Johnson & Johnson | -0.06 | -0.06 | 0.02 | 94 | Healthcare | |
| The Coca-Cola Company | -0.05 | -0.02 | 0.09 | 62 | Consumer Defensive | |
| Sibanye Stillwater Limited | -0.02 | 0.11 | 0.17 | 74 | Basic Materials | |
| Linde plc | -0.01 | 0.07 | 0.17 | 53 | Basic Materials |
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