Looking to balance out your exposure to PGNY? The ETFs below have the lowest correlation with PGNY — they tend to move on their own, which can help reduce risk when PGNY drops. The stock ideas table highlights individual companies that behave independently from PGNY.
Best Diversifiers for PGNY
7 ETFs have low correlation with PGNY (below 0.3), 0 of which are negatively correlated. The least correlated is Direxion Daily Semiconductor Bull 3X ETF (SOXL) (Leveraged Equities) with a 1Y correlation of 0.07, down from 0.30 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Direxion Daily Semiconductor Bull 3X ETF | 0.07 | 0.14 | 0.30 | 96 | Leveraged Equities, Semiconductors | PGNY vs SOXL | |
| Invesco Semiconductors ETF | 0.10 | 0.17 | 0.32 | 96 | Semiconductors, Technology Equities | PGNY vs PSI | |
| Convergence Long/Short Equity ETF | 0.12 | 0.13 | — | 96 | Long-Short, Actively Managed | PGNY vs CLSE | |
| Defiance Quantum ETF | 0.13 | 0.23 | 0.37 | 87 | Technology Equities | PGNY vs QTUM | |
| Invesco QQQ ETF | 0.14 | 0.20 | 0.37 | 59 | Nasdaq-100 | PGNY vs QQQ |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PGNY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PGNY and solid risk/return profiles. The least correlated is Lockheed Martin Corporation (LMT) (Industrials) with a 1Y correlation of -0.01, roughly unchanged from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Lockheed Martin Corporation | -0.01 | 0.06 | 0.06 | 52 | Industrials | |
| Tesla, Inc. | 0.02 | 0.16 | 0.29 | 50 | Consumer Cyclical | |
| Micron Technology, Inc. | 0.08 | 0.12 | 0.22 | 99 | Technology | |
| IonQ, Inc. | 0.09 | 0.20 | 0.31 | 56 | Technology | |
| ASA Gold and Precious Metals Limited | 0.09 | 0.13 | 0.15 | 77 | Financial Services |
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