Looking to balance out your exposure to PARAA? The ETFs below have the lowest correlation with PARAA — they tend to move on their own, which can help reduce risk when PARAA drops. The stock ideas table highlights individual companies that behave independently from PARAA.
Best Diversifiers for PARAA
1 ETFs have low correlation with PARAA (below 0.3), 1 of which are negatively correlated. The least correlated is ProShares UltraPro QQQ (TQQQ) (Leveraged Equities) with a 1Y correlation of -0.07, down from 0.31 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraPro QQQ | -0.07 | 0.10 | 0.31 | 71 | Leveraged Equities | PARAA vs TQQQ |
Diversification Analysis
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