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
0 ETFs have low correlation with PLUG (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.37, roughly unchanged from 0.46 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.37 | 0.34 | 0.46 | 59 | Nasdaq-100 | PLUG vs QQQ | |
| State Street SPDR S&P 500 ETF | 0.38 | 0.37 | 0.46 | 60 | S&P 500 | PLUG vs SPY | |
| Vanguard S&P 500 ETF | 0.39 | 0.37 | 0.46 | 60 | S&P 500 | PLUG vs VOO | |
| Global X Hydrogen ETF | 0.71 | 0.72 | — | 78 | Alternative Energy Equities | PLUG vs HYDR |
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 Consolidated Edison, Inc. (ED) (Utilities) with a 1Y correlation of -0.14, down from -0.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Consolidated Edison, Inc. | -0.14 | -0.02 | -0.00 | 66 | Utilities | |
| Duke Energy Corporation | -0.10 | -0.01 | 0.01 | 64 | Utilities | |
| Walmart Inc. | -0.06 | 0.01 | 0.06 | 70 | Consumer Defensive | |
| Johnson & Johnson | -0.05 | -0.00 | 0.02 | 96 | Healthcare | |
| Plains All American Pipeline, L.P. | -0.04 | 0.11 | 0.20 | 79 | Energy |
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