Looking to diversify beyond PRN? The ETFs below have the lowest correlation with PRN — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from PRN.
Best Diversifiers for PRN
345 ETFs have low correlation with PRN (below 0.3), 66 of which are negatively correlated. The least correlated is ProShares Short Bitcoin ETF (BITI) (Cryptocurrency) with a 1Y correlation of -0.40, roughly unchanged from -0.35 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.40 | -0.33 | -0.35 | 57 | Cryptocurrency | PRN vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.39 | -0.39 | -0.39 | 52 | Cryptocurrency, Leveraged Cryptocurrency | PRN vs SBIT | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.39 | -0.40 | -0.40 | 68 | Inverse Equities, Leveraged Equities | PRN vs MSTZ | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.36 | -0.38 | -0.38 | 70 | Derivative Income | PRN vs WNTR | |
| F/m Ultrashort Treasury Inflation-Protected Securi... | -0.24 | -0.22 | -0.22 | 97 | Inflation-Protected Bonds | PRN vs RBIL |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PRN, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PRN and solid risk/return profiles. The least correlated is Targa Resources Corp. (TRGP) (Energy) with a 1Y correlation of 0.06, down from 0.41 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Targa Resources Corp. | 0.06 | 0.29 | 0.41 | 92 | Energy |
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