Looking to balance out your exposure to ALXO? The ETFs below have the lowest correlation with ALXO — they tend to move on their own, which can help reduce risk when ALXO drops. The stock ideas table highlights individual companies that behave independently from ALXO.
Best Diversifiers for ALXO
1 ETFs have low correlation with ALXO (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 0.21, roughly unchanged from 0.29 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.21 | 0.24 | 0.29 | 70 | S&P 500 | ALXO vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ALXO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ALXO and solid risk/return profiles. The least correlated is Opendoor Technologies Inc. (OPEN) (Real Estate) with a 1Y correlation of 0.08, down from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Opendoor Technologies Inc. | 0.08 | 0.17 | 0.24 | 96 | Real Estate |
Build a portfolio that complements ALXO
Add ALXO to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with ALXO