Looking to balance out your exposure to PANW? The ETFs below have historically moved differently from PANW, 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 PANW
208 ETFs have low correlation with PANW (below 0.3), 15 of which are negatively correlated. The least correlated is iShares Core High Dividend ETF (HDV) (Dividend) with a 1Y correlation of -0.18, down from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Core High Dividend ETF | -0.18 | 0.02 | 0.13 | 88 | Dividend, Large Cap Value Equities | PANW vs HDV | |
| First Trust Morningstar Dividend Leaders Index Fun... | -0.10 | 0.06 | 0.15 | 91 | Large Cap Value Equities, Dividend | PANW vs FDL | |
| SPDR S&P Dividend ETF | -0.05 | 0.12 | 0.22 | 57 | Mid Cap Value Equities, Dividend | PANW vs SDY | |
| Franklin International Low Volatility High Dividen... | -0.05 | 0.12 | 0.21 | 96 | Dividend, Low Volatility | PANW vs LVHI | |
| WisdomTree US High Dividend Fund | -0.04 | 0.09 | 0.16 | 90 | Large Cap Value Equities, Dividend | PANW vs DHS |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PANW, 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 The Coca-Cola Company (KO) (Consumer Defensive) with a 1Y correlation of -0.30, down from 0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Coca-Cola Company | -0.30 | -0.10 | 0.03 | 86 | Consumer Defensive | |
| Johnson & Johnson | -0.23 | -0.14 | -0.05 | 95 | Healthcare | |
| Consolidated Edison, Inc. | -0.22 | -0.15 | -0.06 | 53 | Utilities | |
| Altria Group, Inc. | -0.20 | -0.08 | -0.04 | 64 | Consumer Defensive | |
| Coca-Cola European Partners plc | -0.18 | 0.01 | 0.12 | 56 | Consumer Defensive |
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