Looking to balance out your exposure to ALGN? The ETFs below have the lowest correlation with ALGN — they tend to move on their own, which can help reduce risk when ALGN drops. The stock ideas table highlights individual companies that behave independently from ALGN.
Best Diversifiers for ALGN
0 ETFs have low correlation with ALGN (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.40, down from 0.56 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.40 | 0.44 | 0.56 | 59 | Nasdaq-100 | ALGN vs QQQ | |
| SP Funds S&P 500 Sharia Industry Exclusions ETF | 0.41 | 0.46 | 0.57 | 64 | S&P 500 | ALGN vs SPUS | |
| Wahed FTSE USA Shariah ETF | 0.46 | 0.49 | 0.58 | 77 | Large Cap Growth Equities | ALGN vs HLAL | |
| Wahed Dow Jones Islamic World ETF | 0.48 | 0.48 | 0.54 | 73 | Foreign Large Cap Equities | ALGN vs UMMA | |
| State Street SPDR S&P 500 ETF | 0.49 | 0.50 | 0.59 | 60 | S&P 500 | ALGN vs SPY |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ALGN, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ALGN and solid risk/return profiles. The least correlated is CF Industries Holdings, Inc. (CF) (Basic Materials) with a 1Y correlation of -0.13, down from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| CF Industries Holdings, Inc. | -0.13 | 0.03 | 0.04 | 51 | Basic Materials | |
| Pinnacle West Capital Corporation | -0.03 | 0.04 | 0.10 | 78 | Utilities | |
| Valero Energy Corporation | -0.02 | 0.11 | 0.09 | 91 | Energy | |
| Embotelladora Andina S.A | -0.01 | 0.06 | 0.06 | 60 | Consumer Defensive | |
| ConocoPhillips Company | 0.03 | 0.12 | 0.13 | 65 | Energy |
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