Looking to balance out your exposure to PR? The ETFs below have the lowest correlation with PR — they tend to move on their own, which can help reduce risk when PR drops. The stock ideas table highlights individual companies that behave independently from PR.
Best Diversifiers for PR
8 ETFs have low correlation with PR (below 0.3), 7 of which are negatively correlated. The least correlated is First Trust Preferred Securities & Income ETF (FPE) (Preferred Stock/Convertible Bonds) with a 1Y correlation of -0.11, down from 0.12 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| First Trust Preferred Securities & Income ETF | -0.11 | 0.12 | — | 60 | Preferred Stock/Convertible Bonds | PR vs FPE | |
| State Street SPDR S&P 500 ETF | -0.10 | 0.18 | — | 65 | S&P 500 | PR vs SPY | |
| Vanguard S&P 500 ETF | -0.10 | 0.18 | — | 66 | S&P 500 | PR vs VOO | |
| VanEck Vectors Emerging Markets High Yield Bond ET... | -0.08 | 0.10 | — | 79 | High Yield Bonds | PR vs HYEM | |
| Vanguard Information Technology ETF | -0.06 | 0.15 | — | 50 | Technology Equities | PR vs VGT |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PR, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PR and solid risk/return profiles. The least correlated is Opera Limited (OPRA) (Communication Services) with a 1Y correlation of -0.16, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Opera Limited | -0.16 | 0.16 | 0.19 | 52 | Communication Services | |
| Agnico Eagle Mines Limited | -0.14 | 0.06 | 0.11 | 54 | Basic Materials | |
| argenx SE | -0.13 | -0.02 | 0.02 | 81 | Healthcare | |
| Advanced Drainage Systems, Inc. | -0.10 | 0.18 | — | 72 | Industrials | |
| Glaukos Corporation | -0.07 | 0.08 | 0.12 | 78 | Healthcare |
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Build a portfolio that complements PR
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