Looking to diversify beyond PRN? The ETFs below have historically moved differently from PRN, 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 PRN
418 ETFs have low correlation with PRN (below 0.3), 89 of which are negatively correlated.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Proshares Ultrashort Bitcoin ETF | -0.42 | — | — | 55 | Cryptocurrency, Leveraged Cryptocurrency | PRN vs SBIT | |
| ProShares Short Bitcoin ETF | -0.42 | -0.34 | — | 61 | Cryptocurrency | PRN vs BITI | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.40 | — | — | 61 | Inverse Equities, Leveraged Equities | PRN vs MSTZ | |
| YieldMax MSTR Short Option Income Strategy ETF | -0.38 | — | — | 75 | Derivative Income | PRN vs WNTR | |
| Alpha Architect Tail Risk ETF | -0.29 | -0.09 | — | 56 | Options Trading | PRN vs CAOS |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PRN, 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 Targa Resources Corp. (TRGP) (Energy) with a 1Y correlation of 0.06, down from 0.40 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Targa Resources Corp. | 0.06 | 0.29 | 0.40 | 93 | Energy |
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