Looking to balance out your exposure to PDI? The ETFs below have historically moved differently from PDI, 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 PDI
149 ETFs have low correlation with PDI (below 0.3), 18 of which are negatively correlated. The least correlated is State Street Energy Select Sector SPDR ETF (XLE) (Energy Equities) with a 1Y correlation of -0.18, down from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Energy Select Sector SPDR ETF | -0.18 | 0.02 | 0.13 | 69 | Energy Equities | PDI vs XLE | |
| Fidelity MSCI Energy Index ETF | -0.17 | 0.03 | 0.14 | 69 | Energy Equities | PDI vs FENY | |
| Vanguard Energy ETF | -0.17 | 0.03 | 0.14 | 70 | Energy Equities | PDI vs VDE | |
| VanEck Energy Income ETF | -0.16 | 0.09 | 0.22 | 70 | Energy Equities | PDI vs EINC | |
| iShares Global Energy ETF | -0.16 | 0.03 | 0.15 | 74 | Energy Equities | PDI vs IXC |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PDI, 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 Chevron Corporation (CVX) (Energy) with a 1Y correlation of -0.22, down from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chevron Corporation | -0.22 | -0.03 | 0.09 | 76 | Energy | |
| Plains All American Pipeline, L.P. | -0.19 | 0.08 | 0.20 | 90 | Energy | |
| ConocoPhillips Company | -0.18 | -0.01 | 0.10 | 71 | Energy | |
| Exxon Mobil Corporation | -0.18 | -0.02 | 0.08 | 85 | Energy | |
| Occidental Petroleum Corporation | -0.17 | 0.01 | 0.12 | 68 | Energy |
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