Looking to balance out your exposure to ALNY? The ETFs below have the lowest correlation with ALNY — they tend to move on their own, which can help reduce risk when ALNY drops. The stock ideas table highlights individual companies that behave independently from ALNY.
Best Diversifiers for ALNY
2 ETFs have low correlation with ALNY (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 0.19, down from 0.35 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.19 | 0.26 | 0.35 | 74 | S&P 500 | ALNY vs SPY | |
| Vanguard S&P 500 ETF | 0.20 | 0.27 | 0.35 | 74 | S&P 500 | ALNY vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ALNY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ALNY and solid risk/return profiles. The least correlated is Palo Alto Networks, Inc. (PANW) (Technology) with a 1Y correlation of -0.06, down from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Palo Alto Networks, Inc. | -0.06 | 0.10 | 0.20 | 69 | Technology | |
| CrowdStrike Holdings, Inc. | -0.05 | 0.10 | 0.24 | 72 | Technology | |
| Cisco Systems, Inc. | -0.01 | 0.14 | 0.21 | 96 | Technology | |
| MDU Resources Group, Inc. | 0.00 | 0.08 | 0.16 | 78 | Basic Materials | |
| Sempra Energy | 0.02 | 0.12 | 0.14 | 71 | Utilities |
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