Looking to balance out your exposure to PNW? The ETFs below have the lowest correlation with PNW — they tend to move on their own, which can help reduce risk when PNW drops. The stock ideas table highlights individual companies that behave independently from PNW.
Best Diversifiers for PNW
3 ETFs have low correlation with PNW (below 0.3), 2 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 -0.13, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | -0.13 | 0.05 | 0.18 | 63 | S&P 500 | PNW vs SPY | |
| Vanguard S&P 500 ETF | -0.12 | 0.05 | 0.19 | 64 | S&P 500 | PNW vs VOO | |
| Vanguard Value ETF | 0.24 | 0.37 | 0.42 | 88 | Large Cap Value Equities | PNW vs VTV | |
| Schwab U.S. Dividend Equity ETF | 0.33 | 0.42 | 0.44 | 82 | Dividend | PNW vs SCHD |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PNW, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PNW and solid risk/return profiles. The least correlated is Micron Technology, Inc. (MU) (Technology) with a 1Y correlation of -0.25, down from -0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Micron Technology, Inc. | -0.25 | -0.15 | -0.05 | 99 | Technology | |
| Hewlett Packard Enterprise Company | -0.20 | -0.08 | 0.05 | 92 | Technology | |
| Dell Technologies Inc. | -0.20 | -0.13 | -0.02 | 97 | Technology | |
| Seagate Technology plc | -0.20 | -0.02 | 0.06 | 99 | Technology | |
| Intel Corporation | -0.18 | -0.01 | 0.07 | 98 | Technology |
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