Looking to diversify beyond PZA? The ETFs below have the lowest correlation with PZA — 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 PZA.
Best Diversifiers for PZA
1159 ETFs have low correlation with PZA (below 0.3), 37 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.30, roughly unchanged from -0.32 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.30 | -0.31 | -0.32 | 61 | Leveraged Currency | PZA vs YCS | |
| iShares Enhanced Short-Term Bond Active ETF | -0.17 | -0.17 | -0.17 | 99 | Ultrashort Bond | PZA vs CSHP | |
| Bastion Energy ETF | -0.16 | -0.17 | -0.17 | 75 | Energy Equities | PZA vs BESF | |
| Fidelity Managed Futures ETF | -0.15 | -0.16 | -0.16 | 64 | Systematic Trend | PZA vs FFUT | |
| First Trust Alternative Absolute Return Strategy E... | -0.14 | -0.02 | -0.03 | 70 | Commodities | PZA vs FAAR |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PZA, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PZA and solid risk/return profiles. The least correlated is Nuveen AMT-Free Municipal Credit Income Fund (NVG) (Financial Services) with a 1Y correlation of 0.49, roughly unchanged from 0.48 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Nuveen AMT-Free Municipal Credit Income Fund | 0.49 | 0.51 | 0.48 | 78 | Financial Services |
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