Looking to balance out your exposure to ASND? The ETFs below have historically moved differently from ASND, 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 ASND
2 ETFs have low correlation with ASND (below 0.3), 0 of which are negatively correlated. The least correlated is First Trust Indxx Innovative Transaction & Process ETF (LEGR) (Blockchain) with a 1Y correlation of 0.08, down from 0.27 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| First Trust Indxx Innovative Transaction & Process... | 0.08 | 0.19 | 0.27 | 75 | Blockchain | ASND vs LEGR | |
| WisdomTree International Al Enhanced Value Fund | 0.14 | 0.21 | 0.24 | 84 | Foreign Large Cap Equities | ASND vs AIVI |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ASND, 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 Endesa SA ADR (ELEZY) (Utilities) with a 1Y correlation of -0.05, roughly unchanged from 0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Endesa SA ADR | -0.05 | -0.00 | 0.04 | 96 | Utilities | |
| Micron Technology, Inc. | -0.01 | 0.07 | 0.17 | 99 | Technology | |
| KLA Corporation | -0.00 | 0.09 | 0.20 | 86 | Technology | |
| Western Digital Corporation | 0.00 | 0.13 | 0.18 | 99 | Technology | |
| Argan, Inc. | 0.01 | 0.09 | 0.13 | 92 | Industrials |
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