Looking to balance out your exposure to ALC? The ETFs below have historically moved differently from ALC, 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 ALC
2 ETFs have low correlation with ALC (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.29, down from 0.52 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.29 | 0.41 | 0.52 | 78 | S&P 500 | ALC vs SPY | |
| Vanguard S&P 500 ETF | 0.30 | 0.41 | 0.52 | 78 | S&P 500 | ALC vs VOO | |
| SPDR S&P Pharmaceuticals ETF | 0.36 | 0.43 | 0.48 | 94 | Health & Biotech Equities | ALC vs XPH | |
| Schwab U.S. Dividend Equity ETF | 0.38 | 0.46 | 0.49 | 95 | Dividend | ALC vs SCHD |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ALC, 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 Howmet Aerospace Inc. (HWM) (Industrials) with a 1Y correlation of 0.10, down from 0.29 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Howmet Aerospace Inc. | 0.10 | 0.18 | 0.29 | 89 | Industrials | |
| Berkshire Hathaway Inc. | 0.22 | 0.33 | 0.38 | 61 | Financial Services | |
| Johnson & Johnson | 0.22 | 0.30 | 0.31 | 96 | Healthcare | |
| Novartis AG | 0.52 | 0.47 | 0.45 | 86 | Healthcare |
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