Looking to balance out your exposure to PL? The ETFs below have the lowest correlation with PL — they tend to move on their own, which can help reduce risk when PL drops. The stock ideas table highlights individual companies that behave independently from PL.
Best Diversifiers for PL
8 ETFs have low correlation with PL (below 0.3), 2 of which are negatively correlated. The least correlated is Breakwave Tanker Shipping ETF (BWET) (Commodities) with a 1Y correlation of -0.06, roughly unchanged from -0.02 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Breakwave Tanker Shipping ETF | -0.06 | -0.02 | — | 99 | Commodities | PL vs BWET | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.05 | -0.06 | — | 100 | Government Bonds, Ultrashort Bond | PL vs BIL | |
| Vanguard Energy ETF | 0.05 | 0.18 | — | 60 | Energy Equities | PL vs VDE | |
| iShares 0-3 Month Treasury Bond ETF | 0.07 | -0.00 | — | 100 | Ultrashort Bond | PL vs SGOV | |
| Schwab U.S. Dividend Equity ETF | 0.10 | 0.31 | — | 91 | Dividend | PL vs SCHD |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PL and solid risk/return profiles. The least correlated is Colgate-Palmolive Company (CL) (Consumer Defensive) with a 1Y correlation of -0.13, roughly unchanged from -0.08 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Colgate-Palmolive Company | -0.13 | -0.08 | — | 56 | Consumer Defensive | |
| Indivior PLC Ordinary Shares | 0.01 | 0.20 | 0.14 | 98 | Healthcare | |
| Tsakos Energy Navigation Ltd | 0.01 | 0.07 | 0.08 | 96 | Energy | |
| Chevron Corporation | 0.01 | 0.08 | 0.11 | 74 | Energy | |
| Roche Holding AG | 0.01 | 0.08 | 0.12 | 75 | Healthcare |
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