Looking to balance out your exposure to APPS? The ETFs below have historically moved differently from APPS, 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 APPS
0 ETFs have low correlation with APPS (below 0.3), 0 of which are negatively correlated. The least correlated is ProShares Ultra S&P500 (SSO) (Leveraged Equities) with a 1Y correlation of 0.34, down from 0.52 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Ultra S&P500 | 0.34 | 0.40 | 0.52 | 61 | Leveraged Equities, S&P 500 | APPS vs SSO | |
| Vanguard S&P 500 ETF | 0.34 | 0.39 | 0.52 | 72 | S&P 500 | APPS vs VOO |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for APPS, 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 DaVita Inc. (DVA) (Healthcare) with a 1Y correlation of -0.04, down from 0.20 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| DaVita Inc. | -0.04 | 0.13 | 0.20 | 70 | Healthcare | |
| BW LPG Limited | -0.02 | 0.08 | 0.06 | 82 | Industrials | |
| Nabors Industries Ltd. | 0.00 | 0.18 | 0.24 | 91 | Energy | |
| PG&E Corporation | 0.01 | 0.15 | 0.22 | 59 | Utilities | |
| The Vita Coco Company, Inc. | 0.03 | 0.13 | 0.20 | 89 | Consumer Defensive |
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