Looking to balance out your exposure to ALLE? The ETFs below have the lowest correlation with ALLE — they tend to move on their own, which can help reduce risk when ALLE drops. The stock ideas table highlights individual companies that behave independently from ALLE.
Best Diversifiers for ALLE
0 ETFs have low correlation with ALLE (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 0.36, down from 0.58 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.36 | 0.49 | 0.58 | 60 | S&P 500 | ALLE vs VOO | |
| State Street SPDR S&P 500 ETF | 0.37 | 0.49 | 0.58 | 60 | S&P 500 | ALLE vs SPY | |
| Vanguard Total Stock Market ETF | 0.39 | 0.52 | 0.60 | 60 | Large Cap Blend Equities | ALLE vs VTI | |
| Schwab U.S. Dividend Equity ETF | 0.50 | 0.62 | 0.66 | 77 | Dividend | ALLE vs SCHD | |
| Industrial Select Sector SPDR Fund | 0.61 | 0.66 | 0.69 | 50 | Industrials Equities | ALLE vs XLI |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ALLE, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ALLE and solid risk/return profiles. The least correlated is Cboe Global Markets, Inc. (CBOE) (Financial Services) with a 1Y correlation of -0.08, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cboe Global Markets, Inc. | -0.08 | -0.02 | 0.15 | 52 | Financial Services | |
| EOG Resources, Inc. | -0.07 | 0.13 | 0.16 | 58 | Energy | |
| AppLovin Corporation | -0.01 | 0.13 | 0.25 | 58 | Communication Services | |
| Altria Group, Inc. | 0.00 | 0.15 | 0.22 | 74 | Consumer Defensive | |
| NVIDIA Corporation | 0.05 | 0.15 | 0.28 | 70 | Technology |
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