Looking to balance out your exposure to PLUG? The ETFs below have the lowest correlation with PLUG — they tend to move on their own, which can help reduce risk when PLUG drops. The stock ideas table highlights individual companies that behave independently from PLUG.
Best Diversifiers for PLUG
1 ETFs have low correlation with PLUG (below 0.3), 0 of which are negatively correlated. The least correlated is State Street Energy Select Sector SPDR ETF (XLE) (Energy Equities) with a 1Y correlation of 0.06, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Energy Select Sector SPDR ETF | 0.06 | 0.15 | 0.18 | 70 | Energy Equities | PLUG vs XLE | |
| Vanguard FTSE Emerging Markets ETF | 0.34 | 0.40 | 0.44 | 56 | Emerging Markets Equities | PLUG vs VWO | |
| Invesco QQQ ETF | 0.35 | 0.33 | 0.45 | 74 | Nasdaq-100 | PLUG vs QQQ | |
| State Street SPDR S&P 500 ETF | 0.37 | 0.37 | 0.46 | 74 | S&P 500 | PLUG vs SPY | |
| Vanguard S&P 500 ETF | 0.37 | 0.37 | 0.46 | 74 | S&P 500 | PLUG vs VOO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PLUG, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PLUG and solid risk/return profiles. The least correlated is Duke Energy Corporation (DUK) (Utilities) with a 1Y correlation of -0.09, roughly unchanged from 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Duke Energy Corporation | -0.09 | -0.00 | 0.01 | 57 | Utilities | |
| Johnson & Johnson | -0.05 | -0.00 | 0.02 | 94 | Healthcare | |
| Walmart Inc. | -0.05 | 0.02 | 0.07 | 66 | Consumer Defensive | |
| Plains All American Pipeline, L.P. | -0.04 | 0.11 | 0.20 | 89 | Energy | |
| Energy Transfer LP | -0.02 | 0.10 | 0.17 | 74 | Energy |
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