Looking to balance out your exposure to PRLD? The ETFs below have the lowest correlation with PRLD — they tend to move on their own, which can help reduce risk when PRLD drops. The stock ideas table highlights individual companies that behave independently from PRLD.
Best Diversifiers for PRLD
2 ETFs have low correlation with PRLD (below 0.3), 0 of which are negatively correlated. The least correlated is Schwab U.S. Dividend Equity ETF (SCHD) (Dividend) with a 1Y correlation of 0.15, roughly unchanged from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Schwab U.S. Dividend Equity ETF | 0.15 | 0.22 | 0.24 | 83 | Dividend | PRLD vs SCHD | |
| Vanguard Total World Stock ETF | 0.19 | 0.28 | 0.30 | 63 | Global Equities | PRLD vs VT |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PRLD, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PRLD and solid risk/return profiles. The least correlated is Nicolet Bankshares Inc. (NIC) (Financial Services) with a 1Y correlation of 0.11, roughly unchanged from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Nicolet Bankshares Inc. | 0.11 | 0.21 | 0.20 | 71 | Financial Services |
Build a portfolio that complements PRLD
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