Looking to balance out your exposure to PNR? The ETFs below have the lowest correlation with PNR — they tend to move on their own, which can help reduce risk when PNR drops. The stock ideas table highlights individual companies that behave independently from PNR.
Best Diversifiers for PNR
1 ETFs have low correlation with PNR (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard Short-Term Bond Index Fund ETF Shares (BSV) (Short-Term Bond) with a 1Y correlation of 0.25, roughly unchanged from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Short-Term Bond Index Fund ETF Shares | 0.25 | 0.18 | 0.16 | 54 | Short-Term Bond | PNR vs BSV | |
| ProShares UltraPro QQQ | 0.34 | 0.44 | 0.54 | 53 | Leveraged Equities | PNR vs TQQQ | |
| VanEck Semiconductor ETF | 0.38 | 0.41 | 0.49 | 94 | Semiconductors, Technology Equities | PNR vs SMH | |
| Vanguard S&P 500 ETF | 0.48 | 0.58 | 0.65 | 59 | S&P 500 | PNR vs VOO | |
| State Street SPDR S&P 500 ETF | 0.49 | 0.58 | 0.65 | 59 | S&P 500 | PNR vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PNR, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PNR and solid risk/return profiles. The least correlated is Chevron Corporation (CVX) (Energy) with a 1Y correlation of -0.01, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chevron Corporation | -0.01 | 0.14 | 0.19 | 70 | Energy | |
| EOG Resources, Inc. | 0.02 | 0.13 | 0.16 | 57 | Energy | |
| Welltower Inc. | 0.03 | 0.24 | 0.31 | 86 | Real Estate | |
| Johnson & Johnson | 0.08 | 0.09 | 0.17 | 96 | Healthcare | |
| United Therapeutics Corporation | 0.11 | 0.18 | 0.18 | 94 | Healthcare |
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