Looking to balance out your exposure to ASND? The ETFs below have the lowest correlation with ASND — they tend to move on their own, which can help reduce risk when ASND drops. The stock ideas table highlights individual companies that behave independently from ASND.
Best Diversifiers for ASND
1 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 0.09, down from 0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| First Trust Indxx Innovative Transaction & Process... | 0.09 | 0.20 | 0.28 | 64 | Blockchain | ASND vs LEGR |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ASND, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ASND and solid risk/return profiles. The least correlated is Bloom Energy Corporation (BE) (Industrials) with a 1Y correlation of -0.10, roughly unchanged from -0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Bloom Energy Corporation | -0.10 | -0.10 | -0.10 | 99 | Industrials | |
| Endesa SA ADR | -0.07 | -0.01 | 0.03 | 83 | Utilities | |
| Micron Technology, Inc. | -0.04 | 0.07 | 0.17 | 99 | Technology | |
| KLA Corporation | -0.04 | 0.09 | 0.20 | 95 | Technology | |
| Apple Inc | -0.00 | 0.08 | 0.16 | 89 | Technology |
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