Looking to balance out your exposure to ALLO? The ETFs below have the lowest correlation with ALLO — they tend to move on their own, which can help reduce risk when ALLO drops. The stock ideas table highlights individual companies that behave independently from ALLO.
Best Diversifiers for ALLO
0 ETFs have low correlation with ALLO (below 0.3), 0 of which are negatively correlated. The least correlated is SPDR S&P Biotech ETF (XBI) (Health & Biotech Equities) with a 1Y correlation of 0.58, roughly unchanged from 0.66 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SPDR S&P Biotech ETF | 0.58 | 0.61 | 0.66 | 80 | Health & Biotech Equities | ALLO vs XBI |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ALLO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ALLO and solid risk/return profiles. The least correlated is AbbVie Inc. (ABBV) (Healthcare) with a 1Y correlation of 0.11, roughly unchanged from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AbbVie Inc. | 0.11 | 0.11 | 0.12 | 68 | Healthcare | |
| Vodafone Group Plc | 0.16 | 0.13 | 0.14 | 89 | Communication Services | |
| Arcutis Biotherapeutics, Inc. | 0.36 | 0.35 | 0.38 | 73 | Healthcare | |
| Nuvation Bio Inc. | 0.38 | 0.41 | 0.43 | 75 | Healthcare |
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