Looking to balance out your exposure to ADSK? The ETFs below have the lowest correlation with ADSK — they tend to move on their own, which can help reduce risk when ADSK drops. The stock ideas table highlights individual companies that behave independently from ADSK.
Best Diversifiers for ADSK
3 ETFs have low correlation with ADSK (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco S&P 500 Momentum ETF (SPMO) (Momentum) with a 1Y correlation of 0.18, down from 0.54 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco S&P 500 Momentum ETF | 0.18 | 0.45 | 0.54 | 75 | Momentum, S&P 500 | ADSK vs SPMO | |
| Schwab U.S. Dividend Equity ETF | 0.20 | 0.38 | 0.49 | 80 | Dividend | ADSK vs SCHD | |
| State Street SPDR Portfolio S&P 500 Growth ETF | 0.28 | 0.53 | 0.66 | 57 | S&P 500, Large Cap Growth Equities | ADSK vs SPYG | |
| State Street Technology Select Sector SPDR ETF | 0.30 | 0.52 | 0.66 | 83 | Technology Equities | ADSK vs XLK | |
| Invesco QQQ ETF | 0.34 | 0.55 | 0.68 | 73 | Nasdaq-100 | ADSK vs QQQ |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ADSK, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ADSK and solid risk/return profiles. The least correlated is British American Tobacco p.l.c. (BTI) (Consumer Defensive) with a 1Y correlation of -0.09, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| British American Tobacco p.l.c. | -0.09 | 0.04 | 0.09 | 77 | Consumer Defensive | |
| Johnson & Johnson | -0.09 | -0.02 | 0.08 | 92 | Healthcare | |
| Altria Group, Inc. | -0.08 | 0.01 | 0.06 | 69 | Consumer Defensive | |
| Duke Energy Corporation | -0.06 | -0.02 | 0.04 | 53 | Utilities | |
| Bunge Limited | -0.05 | -0.01 | 0.09 | 91 | Consumer Defensive |
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