Looking to balance out your exposure to PTEN? The ETFs below have the lowest correlation with PTEN — they tend to move on their own, which can help reduce risk when PTEN drops. The stock ideas table highlights individual companies that behave independently from PTEN.
Best Diversifiers for PTEN
2 ETFs have low correlation with PTEN (below 0.3), 1 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of -0.03, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | -0.03 | 0.13 | 0.19 | 73 | Nasdaq-100 | PTEN vs QQQ | |
| Vanguard S&P 500 ETF | 0.02 | 0.22 | 0.30 | 70 | S&P 500 | PTEN vs VOO | |
| State Street Energy Select Sector SPDR ETF | 0.72 | 0.71 | 0.75 | 63 | Energy Equities | PTEN vs XLE |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PTEN, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PTEN and solid risk/return profiles. The least correlated is First Solar, Inc. (FSLR) (Technology) with a 1Y correlation of -0.06, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| First Solar, Inc. | -0.06 | 0.15 | 0.17 | 81 | Technology | |
| Suncor Energy Inc. | 0.55 | 0.57 | 0.62 | 95 | Energy | |
| Noble Corporation | 0.60 | 0.60 | — | 87 | Energy |
Build a portfolio that complements PTEN
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