Looking to balance out your exposure to PAYO? The ETFs below have the lowest correlation with PAYO — they tend to move on their own, which can help reduce risk when PAYO drops. The stock ideas table highlights individual companies that behave independently from PAYO.
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 0.42, roughly unchanged from 0.44 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.42 | 0.44 | — | 70 | S&P 500 | PAYO vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PAYO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PAYO and solid risk/return profiles. The least correlated is ZIM Integrated Shipping Services Ltd. (ZIM) (Industrials) with a 1Y correlation of 0.09, roughly unchanged from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ZIM Integrated Shipping Services Ltd. | 0.09 | 0.12 | 0.19 | 72 | Industrials | |
| Advanced Micro Devices, Inc. | 0.12 | 0.22 | — | 98 | Technology | |
| NVIDIA Corporation | 0.13 | 0.19 | 0.29 | 78 | Technology | |
| Ducommun Incorporated | 0.14 | 0.22 | 0.26 | 93 | Industrials | |
| Albemarle Corporation | 0.15 | 0.26 | — | 93 | Basic Materials |
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