Looking to balance out your exposure to ANET? The ETFs below have the lowest correlation with ANET — they tend to move on their own, which can help reduce risk when ANET drops. The stock ideas table highlights individual companies that behave independently from ANET.
Best Diversifiers for ANET
101 ETFs have low correlation with ANET (below 0.3), 14 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.16, down from 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.16 | -0.02 | 0.01 | 100 | Ultrashort Bond | ANET vs SGOV | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.11 | -0.03 | 0.01 | 100 | Government Bonds, Ultrashort Bond | ANET vs BIL | |
| United States Oil Fund LP | -0.10 | 0.01 | 0.06 | 66 | Oil & Gas | ANET vs USO | |
| ProShares Ultra Bloomberg Crude Oil | -0.08 | 0.03 | 0.07 | 54 | Leveraged Commodities | ANET vs UCO | |
| iShares 0-1 Year Treasury Bond ETF | -0.08 | -0.03 | 0.03 | 100 | Government Bonds, Ultrashort Bond | ANET vs SHV |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ANET, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ANET and solid risk/return profiles. The least correlated is The Coca-Cola Company (KO) (Consumer Defensive) with a 1Y correlation of -0.21, down from 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Coca-Cola Company | -0.21 | -0.17 | 0.01 | 62 | Consumer Defensive | |
| Cboe Global Markets, Inc. | -0.21 | -0.18 | 0.01 | 71 | Financial Services | |
| Verizon Communications Inc. | -0.20 | -0.14 | -0.04 | 56 | Communication Services | |
| Duke Energy Corporation | -0.14 | -0.17 | -0.04 | 57 | Utilities | |
| Altria Group, Inc. | -0.14 | -0.12 | -0.03 | 73 | Consumer Defensive |
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