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
2 ETFs have low correlation with ABCL (below 0.3), 1 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.06, roughly unchanged from -0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.06 | -0.04 | -0.02 | 100 | Ultrashort Bond | ABCL vs SGOV | |
| Schwab U.S. Dividend Equity ETF | 0.17 | 0.28 | 0.28 | 86 | Dividend | ABCL vs SCHD | |
| ProShares Ultra QQQ | 0.40 | 0.34 | 0.37 | 50 | Leveraged Equities | ABCL vs QLD | |
| Schwab International Equity ETF | 0.42 | 0.37 | 0.36 | 60 | Foreign Large Cap Equities | ABCL vs SCHF | |
| Vanguard S&P 500 ETF | 0.43 | 0.39 | 0.38 | 66 | S&P 500 | ABCL vs VOO |
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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 0.15, roughly unchanged from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Merck & Co., Inc. | 0.15 | 0.07 | 0.05 | 91 | Healthcare | |
| NVIDIA Corporation | 0.22 | 0.20 | 0.28 | 65 | Technology | |
| Oscar Health, Inc. | 0.23 | 0.20 | 0.26 | 84 | Healthcare | |
| Broadcom Inc. | 0.23 | 0.21 | 0.25 | 71 | Technology | |
| Impinj, Inc. | 0.26 | 0.26 | 0.34 | 57 | Technology |
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