Looking to balance out your exposure to ALKS? The ETFs below have the lowest correlation with ALKS — they tend to move on their own, which can help reduce risk when ALKS drops. The stock ideas table highlights individual companies that behave independently from ALKS.
Best Diversifiers for ALKS
12 ETFs have low correlation with ALKS (below 0.3), 1 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.13, roughly unchanged from -0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.13 | -0.06 | -0.05 | 100 | Ultrashort Bond | ALKS vs SGOV | |
| abrdn Physical Silver Shares ETF | 0.06 | 0.05 | 0.06 | 51 | Silver, Precious Metals | ALKS vs SIVR | |
| JPMorgan Nasdaq Equity Premium Income ETF | 0.14 | 0.18 | 0.21 | 76 | Nasdaq-100, Derivative Income | ALKS vs JEPQ | |
| VanEck Inflation Allocation ETF | 0.18 | 0.13 | 0.18 | 86 | Diversified Portfolio | ALKS vs RAAX | |
| Fidelity Clean Energy ETF | 0.19 | 0.22 | 0.26 | 90 | Alternative Energy Equities | ALKS vs FRNW |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ALKS, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ALKS and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.04, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.04 | 0.06 | 0.09 | 73 | Consumer Defensive | |
| Halliburton Company | 0.02 | 0.10 | 0.14 | 94 | Energy | |
| Ovintiv Inc. | 0.03 | 0.07 | 0.11 | 83 | Energy | |
| Coca-Cola Consolidated, Inc. | 0.06 | 0.12 | 0.15 | 81 | Consumer Defensive | |
| Arm Holdings plc American Depositary Shares | 0.06 | 0.18 | 0.18 | 91 | Technology |
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