Looking to diversify beyond PEY? The ETFs below have the lowest correlation with PEY — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from PEY.
Best Diversifiers for PEY
769 ETFs have low correlation with PEY (below 0.3), 47 of which are negatively correlated. The least correlated is Direxion Daily MU Bull 2X Shares (MUU) (Leveraged Equities) with a 1Y correlation of -0.74, roughly unchanged from -0.74 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Direxion Daily MU Bull 2X Shares | -0.74 | -0.74 | -0.74 | 99 | Leveraged Equities, Semiconductors | PEY vs MUU | |
| ProShares UltraShort Yen | -0.17 | -0.13 | -0.08 | 75 | Leveraged Currency | PEY vs YCS | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.15 | — | — | 60 | Inverse Equities, Leveraged Equities | PEY vs MSTZ | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.14 | — | — | 65 | Derivative Income | PEY vs WNTR | |
| ProShares Ultra Semiconductors | -0.09 | 0.06 | 0.19 | 78 | Leveraged Equities, Semiconductors | PEY vs USD |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PEY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PEY and solid risk/return profiles. The least correlated is Credo Technology Group Holding Ltd (CRDO) (Technology) with a 1Y correlation of -0.19, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Credo Technology Group Holding Ltd | -0.19 | 0.03 | 0.12 | 86 | Technology | |
| NVIDIA Corporation | -0.12 | 0.01 | 0.15 | 69 | Technology | |
| GE Vernova Inc. | -0.10 | 0.07 | 0.07 | 90 | Industrials | |
| Nebius Group N.V. | -0.10 | 0.04 | 0.04 | 96 | Communication Services | |
| Vertiv Holdings Co. | -0.10 | 0.08 | 0.23 | 94 | Industrials |
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