Looking to balance out your exposure to PNGAY? The ETFs below have historically moved differently from PNGAY, 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 PNGAY
0 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.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.31 | 0.28 | 0.30 | 58 | Nasdaq-100 | PNGAY vs QQQ | |
| Vanguard S&P 500 ETF | 0.34 | 0.31 | 0.32 | 78 | S&P 500 | PNGAY vs VOO | |
| KraneShares Bosera MSCI China A Share ETF | 0.48 | 0.59 | 0.60 | 71 | China Equities, Asia Pacific Equities | PNGAY vs KBA | |
| Xtrackers Harvest CSI 300 China A-Shares ETF | 0.50 | 0.60 | 0.62 | 51 | China Equities, Asia Pacific Equities | PNGAY vs ASHR |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PNGAY, 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 Elbit Systems Ltd. (ESLT) (Industrials) with a 1Y correlation of 0.06, roughly unchanged from 0.08 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Elbit Systems Ltd. | 0.06 | 0.07 | 0.08 | 86 | Industrials | |
| China Yuchai International Limited | 0.22 | 0.15 | 0.19 | 87 | Industrials | |
| Compagnie Financiere Richemont | 0.24 | 0.31 | 0.33 | 84 | Consumer Cyclical | |
| Alibaba Group Holding Limited | 0.30 | 0.56 | 0.58 | 50 | Consumer Cyclical |
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