Looking to diversify beyond PJP? The ETFs below have historically moved differently from PJP, 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 PJP
947 ETFs have low correlation with PJP (below 0.3), 89 of which are negatively correlated. The least correlated is United States Brent Oil Fund LP (BNO) (Oil & Gas) with a 1Y correlation of -0.28, down from -0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Brent Oil Fund LP | -0.28 | -0.14 | -0.04 | 52 | Oil & Gas | PJP vs BNO | |
| United States Gasoline Fund, LP | -0.27 | -0.12 | -0.02 | 87 | Oil & Gas | PJP vs UGA | |
| United States Oil Fund LP | -0.27 | -0.14 | -0.04 | 55 | Oil & Gas | PJP vs USO | |
| Invesco DB Oil Fund | -0.27 | -0.14 | -0.03 | 58 | Oil & Gas | PJP vs DBO | |
| Invesco DB Energy Fund | -0.26 | -0.14 | -0.03 | 72 | Oil & Gas | PJP vs DBE |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PJP, 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 Chevron Corporation (CVX) (Energy) with a 1Y correlation of -0.12, down from 0.18 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chevron Corporation | -0.12 | 0.10 | 0.18 | 80 | Energy | |
| China Shenhua Energy Co Ltd | -0.04 | 0.04 | 0.07 | 74 | Energy | |
| TotalEnergies SE | -0.01 | 0.08 | 0.07 | 91 | Energy | |
| Advanced Micro Devices, Inc. | 0.03 | 0.16 | 0.23 | 94 | Technology | |
| Kraken Robotics Inc | 0.05 | 0.05 | 0.11 | 73 | Technology |
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