Looking to diversify beyond PIT? The ETFs below have historically moved differently from PIT, 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 PIT
1624 ETFs have low correlation with PIT (below 0.3), 1274 of which are negatively correlated. The least correlated is Avantis Short-Term Fixed Income ETF (AVSF) (Short-Term Bond) with a 1Y correlation of -0.31, down from -0.13 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Avantis Short-Term Fixed Income ETF | -0.31 | -0.13 | — | 72 | Short-Term Bond | PIT vs AVSF | |
| Fidelity Municipal Bond Opportunities ETF | -0.31 | — | — | 76 | Municipal Bonds | PIT vs FMUB | |
| iShares Agency Bond ETF | -0.31 | -0.14 | — | 52 | Government Bonds, Short-Term Bond | PIT vs AGZ | |
| iShares National AMT-Free Muni Bond ETF | -0.30 | -0.12 | — | 66 | Municipal Bonds | PIT vs MUB | |
| Astoria Dynamic Core US Fixed Income ETF | -0.30 | — | — | 58 | Multisector Bonds | PIT vs AGGA |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PIT, 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 CareTrust REIT, Inc. (CTRE) (Real Estate) with a 1Y correlation of -0.12, roughly unchanged from -0.04 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| CareTrust REIT, Inc. | -0.12 | -0.04 | — | 84 | Real Estate | |
| Omega Healthcare Investors, Inc. | -0.09 | -0.06 | — | 90 | Real Estate | |
| Ituran Location and Control Ltd. | -0.05 | 0.03 | — | 81 | Technology | |
| Walmart Inc. | -0.04 | -0.01 | 0.01 | 62 | Consumer Defensive | |
| Taiwan Semiconductor Manufacturing Company Limited | -0.04 | 0.08 | — | 87 | Technology |
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