Looking to balance out your exposure to PNGAY? The ETFs below have the lowest correlation with PNGAY — they tend to move on their own, which can help reduce risk when PNGAY drops. The stock ideas table highlights individual companies that behave independently from PNGAY.
Best Diversifiers for PNGAY
1 ETFs have low correlation with PNGAY (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.30, roughly unchanged from 0.30 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.30 | 0.29 | 0.30 | 73 | Nasdaq-100 | PNGAY vs QQQ | |
| Vanguard S&P 500 ETF | 0.32 | 0.32 | 0.32 | 70 | S&P 500 | PNGAY vs VOO | |
| KraneShares Bosera MSCI China A Share ETF | 0.55 | 0.63 | 0.61 | 85 | China Equities | PNGAY vs KBA | |
| Xtrackers Harvest CSI 300 China A-Shares Fund | 0.58 | 0.64 | 0.63 | 75 | China Equities | PNGAY vs ASHR |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PNGAY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PNGAY and solid risk/return profiles. The least correlated is Elbit Systems Ltd (ESLT) (Industrials) with a 1Y correlation of -0.02, roughly unchanged from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Elbit Systems Ltd | -0.02 | 0.06 | 0.08 | 88 | Industrials | |
| China Yuchai International Limited | 0.21 | 0.14 | 0.19 | 95 | Industrials | |
| Compagnie Financiere Richemont | 0.22 | 0.33 | 0.33 | 52 | Consumer Cyclical |
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