Looking to balance out your exposure to PL? The ETFs below have historically moved differently from PL, 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 PL
9 ETFs have low correlation with PL (below 0.3), 2 of which are negatively correlated. The least correlated is SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) (Government Bonds) with a 1Y correlation of -0.06, roughly unchanged from -0.05 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.06 | -0.05 | — | 100 | Government Bonds, Ultrashort Bond | PL vs BIL | |
| Breakwave Tanker Shipping ETF | -0.06 | -0.02 | — | 99 | Commodities | PL vs BWET | |
| Vanguard Energy ETF | 0.05 | 0.17 | — | 61 | Energy Equities | PL vs VDE | |
| Schwab U.S. Dividend Equity ETF | 0.07 | 0.30 | — | 94 | Dividend | PL vs SCHD | |
| iShares 0-3 Month Treasury Bond ETF | 0.08 | 0.01 | — | 100 | Ultrashort Bond | PL vs SGOV |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PL, 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 Colgate-Palmolive Company (CL) (Consumer Defensive) with a 1Y correlation of -0.16, down from -0.05 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Colgate-Palmolive Company | -0.16 | -0.09 | -0.05 | 61 | Consumer Defensive | |
| Enovis Corp | -0.02 | 0.24 | 0.29 | 51 | Industrials | |
| Roche Holding AG ADR | -0.00 | 0.08 | 0.12 | 83 | Healthcare | |
| Chevron Corporation | 0.01 | 0.08 | 0.11 | 72 | Energy | |
| Indivior PLC Ordinary Shares | 0.01 | 0.19 | 0.13 | 91 | Healthcare |
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