Looking to balance out your exposure to RNP? The ETFs below have historically moved differently from RNP, 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 RNP
18 ETFs have low correlation with RNP (below 0.3), 3 of which are negatively correlated. The least correlated is FolioBeyond Alternative Income and Interest Rate Hedge ETF (RISR) (Nontraditional Bonds) with a 1Y correlation of -0.28, down from -0.17 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| FolioBeyond Alternative Income and Interest Rate H... | -0.28 | -0.22 | -0.17 | 51 | Nontraditional Bonds | RNP vs RISR | |
| WisdomTree Floating Rate Treasury Fund | -0.04 | 0.03 | 0.00 | 100 | Government Bonds, Ultrashort Bond | RNP vs USFR | |
| iShares 0-3 Month Treasury Bond ETF | -0.01 | 0.04 | 0.01 | 100 | Ultrashort Bond | RNP vs SGOV | |
| VanEck Semiconductor ETF | 0.04 | 0.16 | 0.28 | 88 | Semiconductors, Technology Equities | RNP vs SMH | |
| Invesco Variable Rate Investment Grade ETF | 0.09 | 0.10 | 0.08 | 99 | Ultrashort Bond, Investment Grade Bonds | RNP vs VRIG |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for RNP, 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 Energy Transfer LP (ET) (Energy) with a 1Y correlation of 0.04, down from 0.30 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Energy Transfer LP | 0.04 | 0.22 | 0.30 | 82 | Energy | |
| Enterprise Products Partners L.P. | 0.04 | 0.24 | 0.29 | 89 | Energy | |
| BlackRock Science and Technology Trust | 0.14 | 0.26 | 0.40 | 84 | Financial Services | |
| Reaves Utility Income Trust | 0.28 | 0.46 | 0.51 | 55 | Financial Services | |
| Nuveen Quality Municipal Income Fund | 0.32 | 0.39 | 0.37 | 76 | Financial Services |
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