Looking to diversify beyond PAYR? The ETFs below have the lowest correlation with PAYR — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from PAYR.
Best Diversifiers for PAYR
5 ETFs have low correlation with PAYR (below 0.3), 1 of which are negatively correlated. The least correlated is YieldMax TSM Option Income Strategy ETF (TSMY) (Derivative Income) with a 1Y correlation of -0.09, roughly unchanged from -0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| YieldMax TSM Option Income Strategy ETF | -0.09 | -0.09 | -0.09 | 85 | Derivative Income | PAYR vs TSMY | |
| Invesco QQQ Income Advantage ETF | 0.01 | 0.01 | 0.01 | 63 | Derivative Income | PAYR vs QQA | |
| YieldMax GOOGL Option Income Strategy ETF | 0.03 | — | — | 92 | Derivative Income | PAYR vs GOOY | |
| Global X NASDAQ 100 Covered Call ETF | 0.08 | 0.08 | 0.08 | 85 | Nasdaq-100, Derivative Income | PAYR vs QYLD | |
| FT Vest High Yield & Target Income ETF | 0.23 | 0.23 | 0.23 | 59 | Derivative Income | PAYR vs HYTI |
Diversification Analysis
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