Looking to diversify beyond PBD? The ETFs below have the lowest correlation with PBD — 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 PBD.
Best Diversifiers for PBD
319 ETFs have low correlation with PBD (below 0.3), 47 of which are negatively correlated. The least correlated is Proshares Ultrashort Bitcoin ETF (SBIT) (Cryptocurrency) with a 1Y correlation of -0.46, roughly unchanged from -0.39 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Proshares Ultrashort Bitcoin ETF | -0.46 | -0.39 | -0.39 | 52 | Cryptocurrency, Leveraged Cryptocurrency | PBD vs SBIT | |
| ProShares Short Bitcoin ETF | -0.45 | -0.34 | -0.37 | 57 | Cryptocurrency | PBD vs BITI | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.43 | — | — | 68 | Inverse Equities, Leveraged Equities | PBD vs MSTZ | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.42 | — | — | 70 | Derivative Income | PBD vs WNTR | |
| Invesco DB US Dollar Index Bullish Fund | -0.34 | -0.37 | -0.40 | 51 | Currency | PBD vs UUP |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PBD, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PBD and solid risk/return profiles. The least correlated is NextEra Energy, Inc. (NEE) (Utilities) with a 1Y correlation of 0.18, down from 0.31 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NextEra Energy, Inc. | 0.18 | 0.28 | 0.31 | 73 | Utilities | |
| Alkermes plc | 0.19 | 0.24 | 0.27 | 87 | Healthcare | |
| Definium Therapeutics, Inc | 0.23 | 0.34 | — | 99 | Healthcare | |
| COMPASS Pathways plc | 0.29 | 0.34 | 0.40 | 96 | Healthcare | |
| Mueller Industries, Inc. | 0.40 | 0.46 | 0.47 | 73 | Industrials |
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