Looking to balance out your exposure to PENN? The ETFs below have the lowest correlation with PENN — they tend to move on their own, which can help reduce risk when PENN drops. The stock ideas table highlights individual companies that behave independently from PENN.
Best Diversifiers for PENN
3 ETFs have low correlation with PENN (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 -0.10, roughly unchanged from -0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.10 | -0.05 | -0.03 | 100 | Ultrashort Bond | PENN vs SGOV | |
| Vanguard S&P 500 ETF | 0.28 | 0.38 | 0.48 | 74 | S&P 500 | PENN vs VOO | |
| State Street SPDR S&P 500 ETF | 0.28 | 0.38 | 0.48 | 74 | S&P 500 | PENN vs SPY | |
| Vanguard Total Stock Market ETF | 0.31 | 0.41 | 0.51 | 73 | Large Cap Blend Equities | PENN vs VTI | |
| iShares Russell 2000 ETF | 0.41 | 0.47 | 0.58 | 68 | Small Cap Blend Equities | PENN vs IWM |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PENN, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PENN and solid risk/return profiles. The least correlated is Walmart Inc. (WMT) (Consumer Defensive) with a 1Y correlation of -0.14, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Walmart Inc. | -0.14 | 0.03 | 0.09 | 66 | Consumer Defensive | |
| Lockheed Martin Corporation | -0.09 | -0.03 | 0.03 | 51 | Industrials | |
| Altria Group, Inc. | -0.08 | 0.04 | 0.09 | 73 | Consumer Defensive | |
| Northrop Grumman Corporation | -0.02 | 0.03 | 0.06 | 54 | Industrials | |
| British American Tobacco p.l.c. | -0.02 | 0.05 | 0.11 | 77 | Consumer Defensive |
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