Looking to balance out your exposure to PBYI? The ETFs below have the lowest correlation with PBYI — they tend to move on their own, which can help reduce risk when PBYI drops. The stock ideas table highlights individual companies that behave independently from PBYI.
Best Diversifiers for PBYI
3 ETFs have low correlation with PBYI (below 0.3), 1 of which are negatively correlated. The least correlated is iShares 0-5 Year TIPS Bond ETF (STIP) (Inflation-Protected Bonds) with a 1Y correlation of -0.01, roughly unchanged from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-5 Year TIPS Bond ETF | -0.01 | 0.03 | 0.04 | 93 | Inflation-Protected Bonds | PBYI vs STIP | |
| State Street SPDR S&P 500 ETF | 0.28 | 0.25 | 0.28 | 74 | S&P 500 | PBYI vs SPY | |
| Vanguard S&P 500 ETF | 0.28 | 0.25 | 0.28 | 74 | S&P 500 | PBYI vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PBYI, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PBYI and solid risk/return profiles. The least correlated is Great Lakes Dredge & Dock Corporation (GLDD) (Industrials) with a 1Y correlation of 0.12, roughly unchanged from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Great Lakes Dredge & Dock Corporation | 0.12 | 0.16 | 0.19 | 84 | Industrials | |
| Tri Pointe Homes, Inc. | 0.13 | 0.22 | 0.20 | 79 | Consumer Cyclical | |
| Halozyme Therapeutics, Inc. | 0.14 | 0.19 | 0.25 | 68 | Healthcare | |
| Neurocrine Biosciences, Inc. | 0.16 | 0.13 | 0.19 | 71 | Healthcare | |
| ABB Ltd | 0.23 | 0.19 | 0.22 | 95 | Industrials |
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