Looking to diversify beyond PNOV? The ETFs below have historically moved differently from PNOV, 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 PNOV
189 ETFs have low correlation with PNOV (below 0.3), 41 of which are negatively correlated. The least correlated is Invesco DB Energy Fund (DBE) (Oil & Gas) with a 1Y correlation of -0.31, down from 0.05 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Energy Fund | -0.31 | -0.09 | 0.05 | 53 | Oil & Gas | PNOV vs DBE | |
| iShares iBonds Oct 2026 Term TIPS ETF | -0.25 | -0.08 | -0.08 | 98 | Inflation-Protected Bonds | PNOV vs IBIC | |
| iShares S&P GSCI Commodity-Indexed Trust | -0.22 | -0.02 | 0.10 | 50 | Commodities | PNOV vs GSG | |
| Strive U.S. Energy ETF | -0.21 | 0.10 | 0.24 | 61 | Energy Equities | PNOV vs DRLL | |
| iShares U.S. Oil & Gas Exploration & Production ET... | -0.19 | 0.12 | 0.27 | 59 | Energy Equities | PNOV vs IEO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PNOV, 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 Realty Income Corporation (O) (Real Estate) with a 1Y correlation of -0.08, down from 0.27 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Realty Income Corporation | -0.08 | 0.11 | 0.27 | 69 | Real Estate | |
| Welltower Inc. | -0.07 | 0.17 | 0.29 | 85 | Real Estate |
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