Looking to balance out your exposure to ALK? The ETFs below have the lowest correlation with ALK — they tend to move on their own, which can help reduce risk when ALK drops. The stock ideas table highlights individual companies that behave independently from ALK.
Best Diversifiers for ALK
0 ETFs have low correlation with ALK (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 ETF (VOO) (S&P 500) with a 1Y correlation of 0.54, roughly unchanged from 0.51 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.54 | 0.45 | 0.51 | 70 | S&P 500 | ALK vs VOO | |
| State Street SPDR S&P 500 ETF | 0.54 | 0.45 | 0.51 | 70 | S&P 500 | ALK vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ALK, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ALK and solid risk/return profiles. The least correlated is CrowdStrike Holdings, Inc. (CRWD) (Technology) with a 1Y correlation of 0.01, down from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| CrowdStrike Holdings, Inc. | 0.01 | 0.14 | 0.21 | 70 | Technology | |
| Alliance Entertainment Holding Corporation Class A... | 0.08 | 0.09 | 0.07 | 66 | Communication Services | |
| Skeena Resources Ltd | 0.13 | 0.12 | 0.14 | 82 | Basic Materials | |
| AxoGen, Inc. | 0.15 | 0.24 | 0.29 | 98 | Healthcare | |
| UnitedHealth Group Incorporated | 0.17 | 0.08 | 0.12 | 61 | Healthcare |
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