Looking to balance out your exposure to PNR? The ETFs below have historically moved differently from PNR, 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 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 0.26, roughly unchanged from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Short-Term Bond Index Fund ETF Shares | 0.26 | 0.18 | 0.16 | 71 | Short-Term Bond | PNR vs BSV | |
| VanEck Semiconductor ETF | 0.32 | 0.38 | 0.47 | 87 | Semiconductors, Technology Equities | PNR vs SMH | |
| Vanguard S&P 500 ETF | 0.42 | 0.56 | 0.64 | 68 | S&P 500 | PNR vs VOO | |
| State Street SPDR S&P 500 ETF | 0.43 | 0.56 | 0.64 | 67 | S&P 500 | PNR vs SPY |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PNR, 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 Chevron Corporation (CVX) (Energy) with a 1Y correlation of -0.05, down from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chevron Corporation | -0.05 | 0.12 | 0.16 | 80 | Energy | |
| Cheniere Energy, Inc. | -0.04 | 0.10 | 0.15 | 57 | Energy | |
| EOG Resources, Inc. | -0.03 | 0.10 | 0.15 | 72 | Energy | |
| LyondellBasell Industries N.V. | 0.03 | 0.27 | 0.35 | 55 | Basic Materials | |
| United Therapeutics Corporation | 0.06 | 0.16 | 0.17 | 95 | Healthcare |
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