Looking to diversify beyond PBD? The ETFs below have historically moved differently from PBD, 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 PBD
404 ETFs have low correlation with PBD (below 0.3), 70 of which are negatively correlated.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Proshares Ultrashort Bitcoin ETF | -0.48 | — | — | 55 | Cryptocurrency, Leveraged Cryptocurrency | PBD vs SBIT | |
| ProShares Short Bitcoin ETF | -0.48 | -0.35 | — | 61 | Cryptocurrency | PBD vs BITI | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.45 | — | — | 61 | Inverse Equities, Leveraged Equities | PBD vs MSTZ | |
| YieldMax MSTR Short Option Income Strategy ETF | -0.44 | — | — | 75 | Derivative Income | PBD vs WNTR | |
| Alpha Architect Tail Risk ETF | -0.25 | -0.10 | — | 56 | Options Trading | PBD vs CAOS |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PBD, 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 NextEra Energy, Inc. (NEE) (Utilities) with a 1Y correlation of 0.16, down from 0.32 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NextEra Energy, Inc. | 0.16 | 0.28 | 0.32 | 77 | Utilities | |
| Alkermes plc | 0.23 | 0.26 | 0.27 | 91 | Healthcare | |
| Definium Therapeutics, Inc | 0.26 | 0.34 | 0.36 | 99 | Healthcare | |
| COMPASS Pathways plc | 0.33 | 0.35 | 0.41 | 91 | Healthcare | |
| Mueller Industries, Inc. | 0.37 | 0.44 | 0.44 | 86 | Industrials |
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