Looking to balance out your exposure to PARA? The ETFs below have the lowest correlation with PARA — they tend to move on their own, which can help reduce risk when PARA drops. The stock ideas table highlights individual companies that behave independently from PARA.
Best Diversifiers for PARA
16 ETFs have low correlation with PARA (below 0.3), 5 of which are negatively correlated. The least correlated is iShares MSCI Global Silver and Metals Miners ETF (SLVP) (Silver) with a 1Y correlation of -0.10, down from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares MSCI Global Silver and Metals Miners ETF | -0.10 | 0.16 | 0.21 | 57 | Silver, Precious Metals | PARA vs SLVP | |
| iShares Silver Trust | -0.05 | 0.12 | 0.15 | 51 | Silver, Precious Metals | PARA vs SLV | |
| State Street SPDR Portfolio S&P 500 Growth ETF | -0.02 | 0.11 | 0.29 | 60 | S&P 500, Large Cap Growth Equities | PARA vs SPYG | |
| JPMorgan Nasdaq Equity Premium Income ETF | -0.02 | 0.11 | — | 76 | Nasdaq-100, Derivative Income | PARA vs JEPQ | |
| Invesco QQQ ETF | -0.01 | 0.12 | 0.32 | 74 | Nasdaq-100 | PARA vs QQQ |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PARA, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PARA and solid risk/return profiles. The least correlated is Brookfield Renewable Corporation (BEPC) (Utilities) with a 1Y correlation of -0.03, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Brookfield Renewable Corporation | -0.03 | 0.12 | 0.12 | 71 | Utilities | |
| HF Sinclair Corp | -0.00 | 0.16 | 0.22 | 93 | Energy | |
| ZIM Integrated Shipping Services Ltd. | 0.00 | 0.13 | 0.21 | 76 | Industrials | |
| Rocket Lab USA, Inc. | 0.03 | 0.19 | 0.28 | 94 | Industrials | |
| Live Nation Entertainment, Inc. | 0.05 | 0.16 | 0.33 | 54 | Communication Services |
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Build a portfolio that complements PARA
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