Looking to balance out your exposure to ALSN? The ETFs below have the lowest correlation with ALSN — they tend to move on their own, which can help reduce risk when ALSN drops. The stock ideas table highlights individual companies that behave independently from ALSN.
Best Diversifiers for ALSN
0 ETFs have low correlation with ALSN (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 0.44, roughly unchanged from 0.50 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.44 | 0.51 | 0.50 | 70 | S&P 500 | ALSN vs VOO | |
| State Street SPDR S&P 500 ETF | 0.44 | 0.51 | 0.50 | 70 | S&P 500 | ALSN vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ALSN, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ALSN and solid risk/return profiles. The least correlated is Exxon Mobil Corporation (XOM) (Energy) with a 1Y correlation of -0.04, down from 0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | -0.04 | 0.16 | 0.28 | 85 | Energy | |
| Vista Oil & Gas, S.A.B. de C.V. | 0.04 | 0.18 | 0.22 | 68 | Energy | |
| Teekay Tankers Ltd. | 0.05 | 0.10 | 0.15 | 82 | Energy | |
| Atmos Energy Corporation | 0.16 | 0.19 | 0.26 | 60 | Utilities | |
| Woori Financial Group Inc. | 0.21 | 0.26 | 0.28 | 74 | Financial Services |
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