Looking to diversify beyond PJP? The ETFs below have the lowest correlation with PJP — 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 PJP.
Best Diversifiers for PJP
754 ETFs have low correlation with PJP (below 0.3), 63 of which are negatively correlated. The least correlated is United States Gasoline Fund LP (UGA) (Oil & Gas) with a 1Y correlation of -0.28, down from -0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Gasoline Fund LP | -0.28 | -0.12 | -0.02 | 78 | Oil & Gas | PJP vs UGA | |
| ProShares UltraShort Yen | -0.27 | -0.13 | -0.09 | 72 | Leveraged Currency | PJP vs YCS | |
| Invesco DB Energy Fund | -0.27 | -0.13 | -0.02 | 53 | Oil & Gas | PJP vs DBE | |
| Invesco DB US Dollar Index Bullish Fund | -0.25 | -0.19 | -0.23 | 51 | Currency | PJP vs UUP | |
| iShares S&P GSCI Commodity-Indexed Trust | -0.23 | -0.10 | 0.01 | 51 | Commodities | PJP vs GSG |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PJP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PJP and solid risk/return profiles. The least correlated is Chevron Corporation (CVX) (Energy) with a 1Y correlation of -0.08, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chevron Corporation | -0.08 | 0.11 | 0.18 | 70 | Energy | |
| TotalEnergies SE | 0.01 | 0.08 | 0.07 | 81 | Energy | |
| China Shenhua Energy Co Ltd | 0.01 | 0.05 | 0.07 | 78 | Energy | |
| Brookfield Renewable Partners L.P. | 0.04 | 0.22 | 0.26 | 77 | Utilities | |
| Advanced Micro Devices, Inc. | 0.06 | 0.17 | 0.25 | 97 | Technology |
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