Looking to balance out your exposure to PNW? The ETFs below have historically moved differently from PNW, 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 PNW
4 ETFs have low correlation with PNW (below 0.3), 2 of which are negatively correlated. The least correlated is Vanguard S&P 500 ETF (VOO) (S&P 500) with a 1Y correlation of -0.14, down from 0.18 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | -0.14 | 0.05 | 0.18 | 68 | S&P 500 | PNW vs VOO | |
| State Street SPDR S&P 500 ETF | -0.13 | 0.05 | 0.18 | 67 | S&P 500 | PNW vs SPY | |
| Franklin International Low Volatility High Dividen... | 0.19 | 0.27 | 0.31 | 97 | Dividend, Low Volatility | PNW vs LVHI | |
| Vanguard Value ETF | 0.25 | 0.37 | 0.42 | 93 | Large Cap Value Equities | PNW vs VTV | |
| Schwab U.S. Dividend Equity ETF | 0.36 | 0.42 | 0.44 | 95 | Dividend | PNW vs SCHD |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PNW, 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 Micron Technology, Inc. (MU) (Technology) with a 1Y correlation of -0.23, down from -0.06 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Micron Technology, Inc. | -0.23 | -0.15 | -0.06 | 99 | Technology | |
| Seagate Technology plc | -0.23 | -0.03 | 0.05 | 99 | Technology | |
| Hewlett Packard Enterprise Company | -0.21 | -0.08 | 0.04 | 94 | Technology | |
| Intel Corporation | -0.20 | -0.02 | 0.07 | 98 | Technology | |
| Dell Technologies Inc. | -0.18 | -0.13 | -0.02 | 96 | Technology |
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