Looking to balance out your exposure to PANW? The ETFs below have the lowest correlation with PANW — they tend to move on their own, which can help reduce risk when PANW drops. The stock ideas table highlights individual companies that behave independently from PANW.
Best Diversifiers for PANW
221 ETFs have low correlation with PANW (below 0.3), 6 of which are negatively correlated. The least correlated is iShares Core High Dividend ETF (HDV) (Dividend) with a 1Y correlation of -0.11, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Core High Dividend ETF | -0.11 | 0.04 | 0.15 | 73 | Dividend, Large Cap Value Equities | PANW vs HDV | |
| First Trust Morningstar Dividend Leaders Index Fun... | -0.06 | 0.07 | 0.16 | 77 | Large Cap Value Equities, Dividend | PANW vs FDL | |
| WisdomTree US High Dividend Fund | -0.04 | 0.09 | 0.17 | 72 | Large Cap Value Equities, Dividend | PANW vs DHS | |
| iShares 0-3 Month Treasury Bond ETF | -0.03 | -0.03 | -0.02 | 100 | Ultrashort Bond | PANW vs SGOV | |
| VanEck Inflation Allocation ETF | -0.03 | 0.10 | 0.19 | 86 | Diversified Portfolio | PANW vs RAAX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PANW, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PANW and solid risk/return profiles. The least correlated is PepsiCo, Inc. (PEP) (Consumer Defensive) with a 1Y correlation of -0.25, down from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| PepsiCo, Inc. | -0.25 | -0.05 | 0.04 | 57 | Consumer Defensive | |
| The Hershey Company | -0.19 | -0.05 | -0.01 | 58 | Consumer Defensive | |
| The Coca-Cola Company | -0.19 | -0.04 | 0.06 | 62 | Consumer Defensive | |
| Duke Energy Corporation | -0.19 | -0.11 | -0.04 | 57 | Utilities | |
| Johnson & Johnson | -0.18 | -0.10 | -0.03 | 94 | Healthcare |
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