Looking to balance out your exposure to PINE? The ETFs below have the lowest correlation with PINE — they tend to move on their own, which can help reduce risk when PINE drops. The stock ideas table highlights individual companies that behave independently from PINE.
Best Diversifiers for PINE
12 ETFs have low correlation with PINE (below 0.3), 5 of which are negatively correlated. The least correlated is Invesco S&P 500 Momentum ETF (SPMO) (Momentum) with a 1Y correlation of -0.07, down from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco S&P 500 Momentum ETF | -0.07 | 0.10 | 0.21 | 62 | Momentum, S&P 500 | PINE vs SPMO | |
| Vanguard Information Technology ETF | -0.05 | 0.09 | 0.17 | 57 | Technology Equities | PINE vs VGT | |
| iShares Semiconductor ETF | -0.01 | 0.09 | 0.15 | 93 | Semiconductors, Technology Equities | PINE vs SOXX | |
| Breakwave Tanker Shipping ETF | -0.00 | 0.02 | — | 99 | Commodities | PINE vs BWET | |
| Franklin FTSE South Korea ETF | -0.00 | 0.13 | 0.17 | 89 | South Korea Equities, Asia Pacific Equities | PINE vs FLKR |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PINE, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PINE and solid risk/return profiles. The least correlated is Eni S.p.A. (E) (Energy) with a 1Y correlation of -0.05, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Eni S.p.A. | -0.05 | 0.10 | 0.17 | 91 | Energy | |
| Ciena Corporation | 0.00 | 0.11 | 0.17 | 99 | Technology | |
| AGNC Investment Corp. | 0.23 | 0.30 | 0.30 | 83 | Real Estate | |
| Bristol-Myers Squibb Company | 0.23 | 0.22 | 0.21 | 80 | Healthcare | |
| Annaly Capital Management, Inc. | 0.25 | 0.31 | 0.33 | 83 | Real Estate |
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