Looking to balance out your exposure to ALAR? The ETFs below have the lowest correlation with ALAR — they tend to move on their own, which can help reduce risk when ALAR drops. The stock ideas table highlights individual companies that behave independently from ALAR.
Best Diversifiers for ALAR
1 ETFs have low correlation with ALAR (below 0.3), 0 of which are negatively correlated. The least correlated is ProShares Ultra Semiconductors (USD) (Leveraged Equities) with a 1Y correlation of 0.29, roughly unchanged from 0.29 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Ultra Semiconductors | 0.29 | 0.34 | 0.29 | 82 | Leveraged Equities, Semiconductors | ALAR vs USD | |
| State Street SPDR S&P 500 ETF | 0.40 | 0.34 | 0.27 | 59 | S&P 500 | ALAR vs SPY | |
| Vanguard S&P 500 ETF | 0.41 | 0.34 | 0.27 | 59 | S&P 500 | ALAR vs VOO | |
| Invesco QQQ ETF | 0.41 | 0.37 | 0.29 | 59 | Nasdaq-100 | ALAR vs QQQ |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ALAR, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ALAR and solid risk/return profiles. The least correlated is Eli Lilly and Company (LLY) (Healthcare) with a 1Y correlation of 0.10, roughly unchanged from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Eli Lilly and Company | 0.10 | 0.12 | 0.05 | 74 | Healthcare | |
| Dell Technologies Inc. | 0.14 | 0.22 | 0.18 | 96 | Technology | |
| Celestica Inc. | 0.15 | 0.26 | 0.24 | 88 | Technology | |
| Modine Manufacturing Company | 0.17 | 0.30 | 0.25 | 93 | Consumer Cyclical | |
| IES Holdings, Inc. | 0.18 | 0.23 | 0.21 | 91 | Industrials |
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