Looking to diversify beyond PBE? The ETFs below have historically moved differently from PBE, 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 PBE
526 ETFs have low correlation with PBE (below 0.3), 95 of which are negatively correlated. The least correlated is United States Oil Fund LP (USO) (Oil & Gas) with a 1Y correlation of -0.33, down from -0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.33 | -0.15 | -0.04 | 55 | Oil & Gas | PBE vs USO | |
| United States Brent Oil Fund LP | -0.32 | -0.15 | -0.04 | 52 | Oil & Gas | PBE vs BNO | |
| Invesco DB Energy Fund | -0.31 | -0.15 | -0.03 | 72 | Oil & Gas | PBE vs DBE | |
| Invesco DB Oil Fund | -0.30 | -0.14 | -0.03 | 58 | Oil & Gas | PBE vs DBO | |
| United States Gasoline Fund LP | -0.29 | -0.14 | -0.02 | 87 | Oil & Gas | PBE vs UGA |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PBE, 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 Powell Industries, Inc. (POWL) (Industrials) with a 1Y correlation of 0.21, roughly unchanged from 0.30 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Powell Industries, Inc. | 0.21 | 0.27 | 0.30 | 93 | Industrials | |
| COMPASS Pathways plc | 0.25 | 0.39 | 0.43 | 91 | Healthcare | |
| Mueller Industries, Inc. | 0.26 | 0.43 | 0.44 | 86 | Industrials | |
| Definium Therapeutics, Inc | 0.31 | 0.42 | — | 99 | Healthcare | |
| Alkermes plc | 0.51 | 0.53 | 0.53 | 91 | Healthcare |
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