Looking to balance out your exposure to PSN? The ETFs below have historically moved differently from PSN, 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 PSN
8 ETFs have low correlation with PSN (below 0.3), 1 of which are negatively correlated. The least correlated is SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) (Government Bonds) with a 1Y correlation of -0.08, roughly unchanged from -0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.08 | -0.08 | -0.05 | 100 | Government Bonds, Ultrashort Bond | PSN vs BIL | |
| Invesco S&P 500 Momentum ETF | 0.12 | 0.29 | 0.37 | 51 | Momentum, S&P 500 | PSN vs SPMO | |
| WisdomTree Japan Opportunities ETF | 0.18 | 0.21 | 0.25 | 91 | Japan Equities, Asia Pacific Equities | PSN vs OPPJ | |
| WisdomTree Japan Hedged Equity Fund | 0.19 | 0.25 | 0.30 | 92 | Japan Equities, Asia Pacific Equities | PSN vs DXJ | |
| Invesco QQQ ETF | 0.21 | 0.31 | 0.35 | 58 | Nasdaq-100 | PSN vs QQQ |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PSN, 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 Walmart Inc. (WMT) (Consumer Defensive) with a 1Y correlation of -0.11, down from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Walmart Inc. | -0.11 | 0.04 | 0.12 | 60 | Consumer Defensive | |
| EOG Resources, Inc. | -0.04 | 0.08 | 0.18 | 73 | Energy | |
| Micron Technology, Inc. | 0.00 | 0.16 | 0.19 | 99 | Technology | |
| Intel Corporation | 0.03 | 0.09 | 0.19 | 98 | Technology | |
| Chevron Corporation | 0.04 | 0.09 | 0.20 | 79 | Energy |
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