Looking to balance out your exposure to ALKT? The ETFs below have the lowest correlation with ALKT — they tend to move on their own, which can help reduce risk when ALKT drops. The stock ideas table highlights individual companies that behave independently from ALKT.
Best Diversifiers for ALKT
1 ETFs have low correlation with ALKT (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.29, down from 0.46 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.29 | 0.42 | 0.46 | 74 | S&P 500 | ALKT vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ALKT, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ALKT and solid risk/return profiles. The least correlated is AbbVie Inc. (ABBV) (Healthcare) with a 1Y correlation of -0.05, roughly unchanged from -0.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AbbVie Inc. | -0.05 | 0.01 | -0.00 | 68 | Healthcare | |
| Lockheed Martin Corporation | -0.01 | 0.02 | 0.04 | 51 | Industrials | |
| Advanced Micro Devices, Inc. | 0.03 | 0.23 | 0.33 | 97 | Technology | |
| Atlas Energy Solutions Inc | 0.03 | 0.16 | — | 62 | Energy | |
| Ducommun Incorporated | 0.06 | 0.23 | 0.25 | 94 | Industrials |
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