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
6 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 -0.18, down from -0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.18 | -0.04 | -0.05 | 100 | Ultrashort Bond | PAM vs SGOV | |
| iShares J.P. Morgan USD Emerging Markets Bond ETF | 0.13 | 0.25 | 0.26 | 66 | Emerging Markets Bonds | PAM vs EMB | |
| State Street SPDR Dow Jones Industrial Average ETF... | 0.13 | 0.20 | 0.26 | 60 | Large Cap Blend Equities | PAM vs DIA | |
| VanEck Semiconductor ETF | 0.18 | 0.25 | 0.23 | 90 | Semiconductors, Technology Equities | PAM vs SMH | |
| Invesco QQQ ETF | 0.19 | 0.28 | 0.26 | 53 | Nasdaq-100 | PAM vs QQQ |
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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 Tenet Healthcare Corporation (THC) (Healthcare) with a 1Y correlation of -0.14, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Tenet Healthcare Corporation | -0.14 | 0.06 | 0.16 | 56 | Healthcare | |
| Arch Capital Group Ltd. | -0.12 | 0.05 | 0.14 | 62 | Financial Services | |
| Johnson & Johnson | -0.10 | -0.06 | 0.02 | 96 | Healthcare | |
| AbbVie Inc. | -0.10 | 0.00 | 0.07 | 81 | Healthcare | |
| RenaissanceRe Holdings Ltd. | -0.10 | 0.05 | 0.12 | 82 | Financial Services |
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Build a portfolio that complements PAM
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