Looking to balance out your exposure to PCRX? The ETFs below have the lowest correlation with PCRX — they tend to move on their own, which can help reduce risk when PCRX drops. The stock ideas table highlights individual companies that behave independently from PCRX.
Best Diversifiers for PCRX
2 ETFs have low correlation with PCRX (below 0.3), 1 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.12, roughly unchanged from -0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.12 | -0.08 | -0.06 | 100 | Ultrashort Bond | PCRX vs SGOV | |
| State Street SPDR S&P 500 ETF | 0.17 | 0.16 | 0.28 | 70 | S&P 500 | PCRX vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PCRX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PCRX and solid risk/return profiles. The least correlated is Amprius Technologies Inc. (AMPX) (Industrials) with a 1Y correlation of -0.02, roughly unchanged from 0.04 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Amprius Technologies Inc. | -0.02 | 0.04 | — | 97 | Industrials | |
| Raytheon Technologies Corporation | -0.01 | 0.09 | 0.17 | 70 | Industrials | |
| F5 Networks, Inc. | -0.01 | 0.07 | 0.20 | 68 | Technology | |
| Millicom International Cellular S.A. | 0.05 | 0.14 | 0.17 | 97 | Communication Services | |
| Altria Group, Inc. | 0.06 | 0.05 | 0.13 | 69 | Consumer Defensive |
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