Looking to balance out your exposure to ABCL? The ETFs below have the lowest correlation with ABCL — they tend to move on their own, which can help reduce risk when ABCL drops. The stock ideas table highlights individual companies that behave independently from ABCL.
Best Diversifiers for ABCL
0 ETFs have low correlation with ABCL (below 0.3), 0 of which are negatively correlated. The least correlated is ProShares Ultra QQQ (QLD) (Leveraged Equities) with a 1Y correlation of 0.41, roughly unchanged from 0.37 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Ultra QQQ | 0.41 | 0.34 | 0.37 | 69 | Leveraged Equities | ABCL vs QLD | |
| Vanguard S&P 500 ETF | 0.43 | 0.38 | 0.38 | 70 | S&P 500 | ABCL vs VOO | |
| iShares Nasdaq Biotechnology ETF | 0.47 | 0.52 | 0.54 | 56 | Health & Biotech Equities | ABCL vs IBB |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ABCL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ABCL and solid risk/return profiles. The least correlated is Merck & Co., Inc. (MRK) (Healthcare) with a 1Y correlation of 0.11, roughly unchanged from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Merck & Co., Inc. | 0.11 | 0.03 | 0.03 | 87 | Healthcare | |
| Oscar Health, Inc. | 0.19 | 0.21 | 0.27 | 59 | Healthcare | |
| Globalstar, Inc. | 0.28 | 0.31 | 0.32 | 97 | Communication Services | |
| Intellia Therapeutics, Inc. | 0.52 | 0.58 | 0.53 | 63 | Healthcare |
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