Looking to balance out your exposure to PRNDY? The ETFs below have the lowest correlation with PRNDY — they tend to move on their own, which can help reduce risk when PRNDY drops. The stock ideas table highlights individual companies that behave independently from PRNDY.
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 0.04, roughly unchanged from 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | 0.04 | 0.04 | 0.01 | 100 | Ultrashort Bond | PRNDY vs SGOV | |
| State Street SPDR S&P 500 ETF | 0.17 | 0.26 | — | 70 | S&P 500 | PRNDY vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PRNDY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PRNDY and solid risk/return profiles. The least correlated is Core Natural Resources, Inc (CNR) (Energy) with a 1Y correlation of -0.10, down from 0.02 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Core Natural Resources, Inc | -0.10 | 0.02 | — | 68 | Energy | |
| Raytheon Technologies Corporation | 0.01 | 0.08 | — | 70 | Industrials | |
| Howmet Aerospace Inc. | 0.02 | 0.08 | — | 79 | Industrials | |
| Hecla Mining Company | 0.07 | 0.18 | — | 87 | Basic Materials | |
| British American Tobacco p.l.c. | 0.09 | 0.20 | — | 77 | Consumer Defensive |
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