Looking to balance out your exposure to PARR? The ETFs below have historically moved differently from PARR, 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 PARR
8 ETFs have low correlation with PARR (below 0.3), 7 of which are negatively correlated. The least correlated is Vanguard Short-Term Treasury ETF (VGSH) (Government Bonds) with a 1Y correlation of -0.20, down from -0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Short-Term Treasury ETF | -0.20 | -0.12 | -0.09 | 87 | Government Bonds, Short-Term Bond | PARR vs VGSH | |
| iShares 1-3 Year Treasury Bond ETF | -0.17 | -0.08 | -0.07 | 83 | Government Bonds, Short-Term Bond | PARR vs SHY | |
| Vanguard S&P 500 ETF | -0.12 | 0.09 | 0.22 | 78 | S&P 500 | PARR vs VOO | |
| Invesco QQQ ETF | -0.08 | 0.05 | 0.15 | 58 | Nasdaq-100 | PARR vs QQQ | |
| Invesco NASDAQ 100 ETF | -0.08 | 0.05 | 0.15 | 59 | Nasdaq-100 | PARR vs QQQM |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PARR, 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 Eli Lilly and Company (LLY) (Healthcare) with a 1Y correlation of -0.18, down from -0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Eli Lilly and Company | -0.18 | -0.08 | -0.03 | 79 | Healthcare | |
| Kinross Gold Corporation | -0.18 | -0.05 | 0.08 | 69 | Basic Materials | |
| Howmet Aerospace Inc. | -0.15 | 0.05 | 0.21 | 89 | Industrials | |
| Nexa Resources S.A. | -0.12 | -0.03 | 0.15 | 93 | Basic Materials | |
| General Electric Company | -0.12 | 0.04 | 0.16 | 76 | Industrials |
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