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
5 ETFs have low correlation with PL (below 0.3), 1 of which are negatively correlated. The least correlated is Breakwave Tanker Shipping ETF (BWET) (Commodities) with a 1Y correlation of -0.07, 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 | -0.07 | -0.02 | — | 98 | Commodities | PL vs BWET | |
| iShares 0-3 Month Treasury Bond ETF | 0.08 | -0.01 | 0.02 | 100 | Ultrashort Bond | PL vs SGOV | |
| Schwab U.S. Dividend Equity ETF | 0.14 | 0.33 | — | 77 | Dividend | PL vs SCHD | |
| WisdomTree International Al Enhanced Value Fund | 0.24 | 0.37 | — | 55 | Foreign Large Cap Equities | PL vs AIVI | |
| Proshares S&P Global Core Battery Metals ETF | 0.27 | 0.35 | — | 73 | Lithium & Battery Metals | PL vs ION |
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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 AxoGen, Inc. (AXGN) (Healthcare) with a 1Y correlation of -0.01, down from 0.30 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AxoGen, Inc. | -0.01 | 0.24 | 0.30 | 99 | Healthcare | |
| Chevron Corporation | -0.01 | 0.11 | 0.12 | 70 | Energy | |
| Indivior PLC Ordinary Shares | -0.00 | 0.20 | 0.15 | 98 | Healthcare | |
| Tsakos Energy Navigation Ltd | 0.02 | 0.08 | 0.08 | 95 | Energy | |
| Novartis AG | 0.05 | 0.09 | 0.11 | 81 | Healthcare |
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