Looking to balance out your exposure to PDS? The ETFs below have the lowest correlation with PDS — they tend to move on their own, which can help reduce risk when PDS drops. The stock ideas table highlights individual companies that behave independently from PDS.
Best Diversifiers for PDS
3 ETFs have low correlation with PDS (below 0.3), 1 of which are negatively correlated. The least correlated is iShares MSCI Japan Small Cap ETF (SCJ) (Japan Equities) with a 1Y correlation of -0.01, down from 0.23 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares MSCI Japan Small Cap ETF | -0.01 | 0.17 | 0.23 | 53 | Japan Equities | PDS vs SCJ | |
| Vanguard S&P 500 ETF | 0.05 | 0.24 | 0.30 | 70 | S&P 500 | PDS vs VOO | |
| Vanguard Information Technology ETF | 0.06 | 0.20 | 0.23 | 76 | Technology Equities | PDS vs VGT |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PDS, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PDS and solid risk/return profiles. The least correlated is Amazon.com, Inc (AMZN) (Consumer Cyclical) with a 1Y correlation of -0.04, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Amazon.com, Inc | -0.04 | 0.13 | 0.16 | 60 | Consumer Cyclical | |
| Fortress Transportation and Infrastructure Investo... | 0.00 | 0.13 | 0.20 | 82 | Industrials | |
| Johnson & Johnson | 0.00 | -0.00 | 0.01 | 92 | Healthcare | |
| Alphabet Inc. Class A | 0.00 | 0.13 | 0.17 | 96 | Communication Services | |
| Ardelyx, Inc. | 0.03 | 0.13 | 0.13 | 62 | Healthcare |
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