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
201 ETFs have low correlation with PNOV (below 0.3), 36 of which are negatively correlated. The least correlated is Alpha Architect Tail Risk ETF (CAOS) (Options Trading) with a 1Y correlation of -0.33, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Alpha Architect Tail Risk ETF | -0.33 | -0.03 | 0.12 | 53 | Options Trading | PNOV vs CAOS | |
| Invesco DB Energy Fund | -0.29 | -0.07 | 0.06 | 58 | Oil & Gas | PNOV vs DBE | |
| iShares iBonds Oct 2026 Term TIPS ETF | -0.23 | -0.08 | -0.08 | 98 | Inflation-Protected Bonds | PNOV vs IBIC | |
| iShares GSCI Commodity Dynamic Roll Strategy ETF | -0.19 | 0.00 | 0.11 | 53 | Commodities | PNOV vs COMT | |
| iShares S&P GSCI Commodity-Indexed Trust | -0.18 | -0.00 | 0.11 | 57 | Commodities | PNOV vs GSG |
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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 Realty Income Corporation (O) (Real Estate) with a 1Y correlation of -0.07, down from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Realty Income Corporation | -0.07 | 0.10 | 0.24 | 74 | Real Estate | |
| Welltower Inc. | -0.03 | 0.18 | 0.31 | 92 | Real Estate | |
| Tesla, Inc. | 0.58 | 0.53 | 0.54 | 64 | Consumer Cyclical |
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