Looking to balance out your exposure to ALNY? The ETFs below have historically moved differently from ALNY, 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 ALNY
2 ETFs have low correlation with ALNY (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 0.14, down from 0.34 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.14 | 0.24 | 0.34 | 72 | S&P 500 | ALNY vs VOO | |
| State Street SPDR S&P 500 ETF | 0.14 | 0.24 | 0.34 | 71 | S&P 500 | ALNY vs SPY |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ALNY, 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 Palo Alto Networks, Inc. (PANW) (Technology) with a 1Y correlation of -0.09, down from 0.17 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Palo Alto Networks, Inc. | -0.09 | 0.07 | 0.17 | 91 | Technology | |
| Lumentum Holdings Inc. | -0.09 | 0.11 | 0.18 | 99 | Technology | |
| TC Energy Corporation | -0.06 | 0.10 | 0.16 | 90 | Energy | |
| MDU Resources Group, Inc. | -0.06 | 0.07 | 0.15 | 66 | Basic Materials | |
| Cisco Systems, Inc. | -0.05 | 0.13 | 0.21 | 94 | Technology |
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