Looking to balance out your exposure to PRAA? The ETFs below have historically moved differently from PRAA, 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 PRAA
1 ETFs have low correlation with PRAA (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco Senior Loan ETF (BKLN) (Bank Loan) with a 1Y correlation of 0.29, roughly unchanged from 0.29 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco Senior Loan ETF | 0.29 | 0.31 | 0.29 | 56 | Bank Loan | PRAA vs BKLN |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PRAA, 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 Photronics, Inc. (PLAB) (Technology) with a 1Y correlation of 0.15, down from 0.32 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Photronics, Inc. | 0.15 | 0.33 | 0.32 | 68 | Technology | |
| Apple Inc | 0.22 | 0.23 | 0.24 | 89 | Technology | |
| LCI Industries | 0.25 | 0.42 | 0.39 | 54 | Consumer Cyclical | |
| Morgan Stanley | 0.27 | 0.39 | 0.37 | 87 | Financial Services | |
| Bio-Rad Laboratories, Inc. | 0.28 | 0.36 | 0.29 | 70 | Healthcare |
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