Looking to diversify beyond PEY? The ETFs below have historically moved differently from PEY, 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 PEY
904 ETFs have low correlation with PEY (below 0.3), 73 of which are negatively correlated. The least correlated is Alpha Architect Tail Risk ETF (CAOS) (Options Trading) with a 1Y correlation of -0.19, roughly unchanged from -0.09 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Alpha Architect Tail Risk ETF | -0.19 | -0.09 | — | 56 | Options Trading | PEY vs CAOS | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.15 | — | — | 61 | Inverse Equities, Leveraged Equities | PEY vs MSTZ | |
| YieldMax MSTR Short Option Income Strategy ETF | -0.13 | — | — | 75 | Derivative Income | PEY vs WNTR | |
| ProShares Ultra Semiconductors | -0.13 | 0.05 | 0.21 | 52 | Leveraged Equities, Semiconductors | PEY vs USD | |
| Invesco DB Oil Fund | -0.13 | -0.03 | 0.11 | 58 | Oil & Gas | PEY 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 PEY, 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 Credo Technology Group Holding Ltd (CRDO) (Technology) with a 1Y correlation of -0.20, down from 0.01 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Credo Technology Group Holding Ltd | -0.20 | 0.01 | — | 74 | Technology | |
| GE Vernova Inc. | -0.15 | — | — | 76 | Industrials | |
| NVIDIA Corporation | -0.14 | -0.01 | 0.14 | 56 | Technology | |
| Vertiv Holdings Co. | -0.13 | 0.06 | 0.21 | 76 | Industrials | |
| Lumentum Holdings Inc. | -0.13 | 0.13 | 0.23 | 98 | Technology |
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