Looking to diversify beyond PIT? The ETFs below have the lowest correlation with PIT — 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 PIT.
Best Diversifiers for PIT
1528 ETFs have low correlation with PIT (below 0.3), 1318 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Avantis Credit ETF | -0.32 | — | — | 50 | Global Bonds | PIT vs AVGB | |
| iShares Yield Optimized Bond ETF | -0.30 | -0.08 | — | 52 | Intermediate Core-Plus Bond | PIT vs BYLD | |
| iShares Investment Grade Corporate Bond Buywrite S... | -0.29 | -0.08 | — | 56 | Corporate Bonds | PIT vs LQDW | |
| First Trust TCW Unconstrained Plus Bond ETF | -0.29 | -0.13 | — | 50 | Nontraditional Bonds | PIT vs UCON | |
| Avantis Short-Term Fixed Income ETF | -0.29 | -0.11 | — | 58 | Short-Term Bond | PIT vs AVSF |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PIT, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PIT and solid risk/return profiles. The least correlated is Taiwan Semiconductor Manufacturing Company Limited (TSM) (Technology) with a 1Y correlation of -0.07, down from 0.08 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Taiwan Semiconductor Manufacturing Company Limited | -0.07 | 0.08 | — | 95 | Technology | |
| American Superconductor Corporation | -0.07 | 0.01 | 0.03 | 61 | Industrials | |
| Ituran Location and Control Ltd. | -0.06 | 0.03 | — | 92 | Technology | |
| Brookfield Renewable Corporation | -0.06 | — | — | 64 | Utilities | |
| Walmart Inc. | -0.04 | 0.01 | — | 69 | Consumer Defensive |
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