Looking to balance out your exposure to PRNDY? The ETFs below have historically moved differently from PRNDY, 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 PRNDY
2 ETFs have low correlation with PRNDY (below 0.3), 0 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of 0.08, roughly unchanged from 0.05 over 3 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 | 0.08 | 0.05 | — | 100 | Ultrashort Bond | PRNDY vs SGOV | |
| State Street SPDR S&P 500 ETF | 0.11 | 0.22 | — | 67 | S&P 500 | PRNDY vs SPY |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PRNDY, 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 Core Natural Resources, Inc (CNR) (Energy) with a 1Y correlation of -0.19, down from 0.00 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Core Natural Resources, Inc | -0.19 | 0.00 | — | 50 | Energy | |
| Howmet Aerospace Inc. | 0.02 | 0.06 | 0.16 | 90 | Industrials | |
| Hecla Mining Company | 0.03 | 0.12 | 0.17 | 85 | Basic Materials | |
| Lockheed Martin Corporation | 0.04 | 0.05 | — | 80 | Industrials | |
| RTX Corporation | 0.07 | 0.08 | — | 82 | Industrials |
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