Looking to balance out your exposure to PLAY? The ETFs below have historically moved differently from PLAY, 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 PLAY
4 ETFs have low correlation with PLAY (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco ESG NASDAQ 100 ETF (QQMG) (Nasdaq-100) with a 1Y correlation of 0.17, roughly unchanged from 0.23 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco ESG NASDAQ 100 ETF | 0.17 | 0.23 | — | 51 | Nasdaq-100 | PLAY vs QQMG | |
| Vanguard Large-Cap ETF | 0.25 | 0.32 | 0.38 | 63 | Large Cap Blend Equities | PLAY vs VV | |
| Vanguard S&P 500 ETF | 0.26 | 0.33 | 0.38 | 68 | S&P 500 | PLAY vs VOO | |
| State Street SPDR S&P 500 ETF | 0.26 | 0.33 | 0.38 | 67 | S&P 500 | PLAY vs SPY |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PLAY, 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 Dell Technologies Inc. (DELL) (Technology) with a 1Y correlation of 0.04, down from 0.24 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Dell Technologies Inc. | 0.04 | 0.15 | 0.24 | 96 | Technology | |
| Caterpillar Inc. | 0.07 | 0.25 | 0.29 | 92 | Industrials | |
| Apple Inc | 0.18 | 0.18 | 0.24 | 89 | Technology | |
| The Cheesecake Factory Incorporated | 0.42 | 0.49 | 0.56 | 83 | Consumer Cyclical |
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