Looking to balance out your exposure to PAYO? The ETFs below have historically moved differently from PAYO, 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 PAYO
0 ETFs have low correlation with PAYO (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.36, roughly unchanged from 0.46 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.36 | 0.42 | 0.46 | 67 | S&P 500 | PAYO vs SPY |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PAYO, 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 Western Digital Corporation (WDC) (Technology) with a 1Y correlation of -0.02, down from 0.24 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Western Digital Corporation | -0.02 | 0.14 | 0.24 | 99 | Technology | |
| Devon Energy Corporation | 0.00 | 0.11 | 0.13 | 76 | Energy | |
| Advanced Micro Devices, Inc. | 0.09 | 0.19 | 0.28 | 94 | Technology | |
| Albemarle Corporation | 0.09 | 0.24 | 0.31 | 77 | Basic Materials | |
| ZIM Integrated Shipping Services Ltd. | 0.09 | 0.11 | 0.18 | 82 | Industrials |
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