Looking to balance out your exposure to PNRG? The ETFs below have the lowest correlation with PNRG — they tend to move on their own, which can help reduce risk when PNRG drops. The stock ideas table highlights individual companies that behave independently from PNRG.
Best Diversifiers for PNRG
2 ETFs have low correlation with PNRG (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.03, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.03 | 0.16 | 0.16 | 65 | S&P 500 | PNRG vs SPY | |
| iShares 0-3 Month Treasury Bond ETF | 0.04 | -0.01 | -0.02 | 100 | Ultrashort Bond | PNRG vs SGOV |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PNRG, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PNRG and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of -0.06, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | -0.06 | 0.09 | 0.09 | 63 | Technology | |
| Halozyme Therapeutics, Inc. | -0.04 | 0.06 | 0.06 | 72 | Healthcare | |
| Banco Macro S.A. | -0.04 | 0.10 | 0.12 | 70 | Financial Services | |
| DRDGOLD Limited | 0.01 | 0.06 | 0.09 | 67 | Basic Materials | |
| Corporación América Airports S.A. | 0.01 | 0.10 | 0.10 | 67 | Industrials |
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