Looking to diversify beyond PNOV? The ETFs below have the lowest correlation with PNOV — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from PNOV.
Best Diversifiers for PNOV
196 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 -0.35, down from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Energy Fund | -0.35 | -0.08 | 0.06 | 71 | Oil & Gas | PNOV vs DBE | |
| United States Brent Oil Fund LP | -0.33 | -0.07 | 0.05 | 65 | Oil & Gas | PNOV vs BNO | |
| Invesco DB Oil Fund | -0.30 | -0.05 | 0.07 | 65 | Oil & Gas | PNOV vs DBO | |
| iShares Commodities Select Strategy ETF | -0.26 | 0.01 | 0.11 | 71 | Commodities | PNOV vs COMT | |
| iShares iBonds Oct 2026 Term TIPS ETF | -0.25 | -0.07 | -0.07 | 98 | Inflation-Protected Bonds | PNOV vs IBIC |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PNOV, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PNOV and solid risk/return profiles. The least correlated is Welltower Inc. (WELL) (Real Estate) with a 1Y correlation of 0.07, down from 0.33 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Welltower Inc. | 0.07 | 0.22 | 0.33 | 79 | Real Estate | |
| Tesla, Inc. | 0.50 | 0.51 | 0.52 | 55 | Consumer Cyclical |
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