Looking to balance out your exposure to ANIP? The ETFs below have historically moved differently from ANIP, 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 ANIP
2 ETFs have low correlation with ANIP (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 0.10, 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 | 0.10 | 0.26 | 0.34 | 68 | S&P 500 | ANIP vs VOO | |
| State Street SPDR S&P 500 ETF | 0.10 | 0.26 | 0.34 | 67 | S&P 500 | ANIP vs SPY |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ANIP, 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 Chevron Corporation (CVX) (Energy) with a 1Y correlation of -0.10, down from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chevron Corporation | -0.10 | 0.05 | 0.16 | 80 | Energy | |
| IES Holdings, Inc. | -0.04 | 0.18 | 0.23 | 86 | Industrials | |
| Credo Technology Group Holding Ltd | -0.04 | 0.12 | — | 74 | Technology | |
| Caterpillar Inc. | -0.04 | 0.16 | 0.24 | 92 | Industrials | |
| Cisco Systems, Inc. | -0.04 | 0.10 | 0.18 | 93 | Technology |
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