Looking to diversify beyond PEJ? The ETFs below have historically moved differently from PEJ, 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 PEJ
365 ETFs have low correlation with PEJ (below 0.3), 85 of which are negatively correlated. The least correlated is Invesco DB Energy Fund (DBE) (Oil & Gas) with a 1Y correlation of -0.39, down from 0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Energy Fund | -0.39 | -0.16 | 0.02 | 72 | Oil & Gas | PEJ vs DBE | |
| United States Oil Fund LP | -0.37 | -0.14 | 0.02 | 55 | Oil & Gas | PEJ vs USO | |
| United States Brent Oil Fund LP | -0.36 | -0.14 | 0.02 | 52 | Oil & Gas | PEJ vs BNO | |
| United States Gasoline Fund, LP | -0.35 | -0.13 | 0.03 | 87 | Oil & Gas | PEJ vs UGA | |
| Invesco DB Oil Fund | -0.33 | -0.13 | 0.03 | 58 | Oil & Gas | PEJ vs DBO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PEJ, 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 Live Nation Entertainment, Inc. (LYV) (Communication Services) with a 1Y correlation of 0.41, down from 0.64 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Live Nation Entertainment, Inc. | 0.41 | 0.53 | 0.64 | 61 | Communication Services | |
| Airbnb, Inc. | 0.58 | 0.62 | 0.68 | 60 | Consumer Cyclical |
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