Looking to balance out your exposure to ALNT? The ETFs below have the lowest correlation with ALNT — they tend to move on their own, which can help reduce risk when ALNT drops. The stock ideas table highlights individual companies that behave independently from ALNT.
Best Diversifiers for ALNT
0 ETFs have low correlation with ALNT (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 0.49, roughly unchanged from 0.49 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.49 | 0.45 | 0.49 | 70 | S&P 500 | ALNT vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ALNT, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ALNT and solid risk/return profiles. The least correlated is Applied Optoelectronics, Inc. (AAOI) (Technology) with a 1Y correlation of 0.30, roughly unchanged from 0.32 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Applied Optoelectronics, Inc. | 0.30 | 0.31 | 0.32 | 98 | Technology |
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