Looking to balance out your exposure to ALKS? The ETFs below have historically moved differently from ALKS, 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 ALKS
10 ETFs have low correlation with ALKS (below 0.3), 2 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.15, down from -0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.15 | -0.06 | -0.04 | 100 | Ultrashort Bond | ALKS vs SGOV | |
| Schwab Government Money Market ETF | -0.07 | — | — | 100 | Money Market | ALKS vs SGVT | |
| JPMorgan Nasdaq Equity Premium Income ETF | 0.11 | 0.17 | — | 55 | Nasdaq-100, Derivative Income | ALKS vs JEPQ | |
| Vanguard S&P 500 ETF | 0.16 | 0.25 | 0.29 | 68 | S&P 500 | ALKS vs VOO | |
| State Street SPDR S&P 500 ETF | 0.16 | 0.25 | 0.29 | 67 | S&P 500 | ALKS vs SPY |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ALKS, 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 Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.04, down from 0.08 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.04 | 0.05 | 0.08 | 66 | Consumer Defensive | |
| ConocoPhillips Company | -0.03 | 0.07 | 0.10 | 72 | Energy | |
| CF Industries Holdings, Inc. | -0.03 | 0.06 | 0.08 | 72 | Basic Materials | |
| Halliburton Company | -0.01 | 0.10 | 0.13 | 79 | Energy | |
| Coca-Cola Consolidated, Inc. | -0.00 | 0.09 | 0.14 | 87 | Consumer Defensive |
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