Looking to diversify beyond PAYM? The ETFs below have historically moved differently from PAYM, 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 PAYM
3 ETFs have low correlation with PAYM (below 0.3), 2 of which are negatively correlated. The least correlated is FT Energy Income Partners Enhanced Income ETF (EIPI) (Derivative Income) with a 1Y correlation of -0.37, roughly unchanged from -0.37 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| FT Energy Income Partners Enhanced Income ETF | -0.37 | -0.37 | -0.37 | 82 | Derivative Income | PAYM vs EIPI | |
| FT Vest High Yield & Target Income ETF | -0.14 | — | — | 60 | Derivative Income | PAYM vs HYTI | |
| VistaShares Target 15™ Berkshire Select Income ETF | 0.21 | 0.21 | 0.21 | 83 | Derivative Income | PAYM vs OMAH | |
| Invesco S&P 500 BuyWrite ETF | 0.34 | 0.34 | 0.34 | 92 | Derivative Income, S&P 500 | PAYM vs PBP |
Diversification Analysis
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