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 State Street Health Care Select Sector SPDR ETF (XLV) (Health & Biotech Equities) with a 1Y correlation of 0.35, roughly unchanged from 0.42 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Health Care Select Sector SPDR ETF | 0.35 | 0.34 | 0.42 | 50 | Health & Biotech Equities | ALGN vs XLV | |
| SP Funds S&P 500 Sharia Industry Exclusions ETF | 0.37 | 0.44 | 0.56 | 65 | S&P 500 | ALGN vs SPUS | |
| Invesco QQQ ETF | 0.37 | 0.43 | 0.55 | 53 | Nasdaq-100 | ALGN vs QQQ | |
| Wahed FTSE USA Shariah ETF | 0.41 | 0.47 | 0.57 | 82 | Large Cap Growth Equities | ALGN vs HLAL | |
| Vanguard S&P 500 ETF | 0.46 | 0.49 | 0.58 | 66 | S&P 500 | ALGN vs VOO |
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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 | 67 | Basic Materials | |
| ONEOK, Inc. | -0.08 | 0.11 | 0.21 | 68 | Energy | |
| Nutrien Ltd. | -0.08 | 0.11 | 0.15 | 61 | Basic Materials | |
| Devon Energy Corporation | -0.07 | 0.13 | 0.17 | 76 | Energy | |
| Pinnacle West Capital Corporation | -0.05 | 0.04 | 0.10 | 83 | Utilities |
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