Looking to balance out your exposure to PRAX? The ETFs below have the lowest correlation with PRAX — they tend to move on their own, which can help reduce risk when PRAX drops. The stock ideas table highlights individual companies that behave independently from PRAX.
Best Diversifiers for PRAX
1 ETFs have low correlation with PRAX (below 0.3), 0 of which are negatively correlated. The least correlated is VanEck Semiconductor ETF (SMH) (Semiconductors) with a 1Y correlation of 0.16, roughly unchanged from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| VanEck Semiconductor ETF | 0.16 | 0.17 | 0.22 | 96 | Semiconductors, Technology Equities | PRAX vs SMH |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PRAX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PRAX and solid risk/return profiles. The least correlated is Fastly, Inc. (FSLY) (Technology) with a 1Y correlation of -0.04, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Fastly, Inc. | -0.04 | 0.12 | 0.19 | 84 | Technology | |
| Fluence Energy, Inc. | -0.01 | 0.12 | — | 92 | Utilities | |
| Select Energy Services, Inc. | 0.00 | 0.03 | 0.05 | 93 | Energy | |
| Preformed Line Products Company | 0.04 | 0.12 | 0.13 | 94 | Industrials | |
| AXT, Inc. | 0.04 | 0.12 | 0.18 | 99 | Technology |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements PRAX
Add PRAX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with PRAX