Looking to diversify beyond PID? The ETFs below have the lowest correlation with PID — 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 PID.
Best Diversifiers for PID
312 ETFs have low correlation with PID (below 0.3), 28 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.36, down from -0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.36 | -0.25 | -0.20 | 61 | Leveraged Currency | PID vs YCS | |
| Invesco DB Energy Fund | -0.15 | 0.02 | 0.19 | 71 | Oil & Gas | PID vs DBE | |
| United States Gasoline Fund LP | -0.14 | 0.02 | 0.17 | 69 | Oil & Gas | PID vs UGA | |
| United States Oil Fund LP | -0.14 | 0.04 | 0.20 | 66 | Oil & Gas | PID vs USO | |
| United States Brent Oil Fund LP | -0.14 | 0.05 | 0.19 | 65 | Oil & Gas | PID vs BNO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PID, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PID and solid risk/return profiles. The least correlated is Valero Energy Corporation (VLO) (Energy) with a 1Y correlation of 0.09, down from 0.33 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Valero Energy Corporation | 0.09 | 0.23 | 0.33 | 93 | Energy | |
| Energy Transfer LP | 0.16 | 0.33 | 0.45 | 69 | Energy | |
| MSCI Inc. | 0.19 | 0.32 | 0.45 | 50 | Financial Services | |
| AbbVie Inc. | 0.23 | 0.27 | 0.28 | 62 | Healthcare | |
| Enphase Energy, Inc. | 0.28 | 0.35 | 0.34 | 65 | Technology |
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