Looking to balance out your exposure to PRGO? The ETFs below have historically moved differently from PRGO, 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 PRGO
1 ETFs have low correlation with PRGO (below 0.3), 1 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.00, roughly unchanged from 0.00 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.00 | 0.01 | 0.00 | 100 | Ultrashort Bond | PRGO vs SGOV | |
| State Street SPDR S&P 500 ETF | 0.32 | 0.29 | 0.34 | 71 | S&P 500 | PRGO vs SPY | |
| Vanguard S&P 500 ETF | 0.33 | 0.29 | 0.34 | 72 | S&P 500 | PRGO vs VOO |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PRGO, 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 Enterprise Products Partners L.P. (EPD) (Energy) with a 1Y correlation of -0.06, down from 0.20 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Enterprise Products Partners L.P. | -0.06 | 0.14 | 0.20 | 86 | Energy | |
| Eversource Energy | 0.19 | 0.26 | 0.25 | 61 | Utilities |
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