Looking to balance out your exposure to ASPN? The ETFs below have the lowest correlation with ASPN — they tend to move on their own, which can help reduce risk when ASPN drops. The stock ideas table highlights individual companies that behave independently from ASPN.
Best Diversifiers for ASPN
1 ETFs have low correlation with ASPN (below 0.3), 0 of which are negatively correlated. The least correlated is Schwab U.S. Dividend Equity ETF (SCHD) (Dividend) with a 1Y correlation of 0.17, down from 0.40 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Schwab U.S. Dividend Equity ETF | 0.17 | 0.31 | 0.40 | 91 | Dividend | ASPN vs SCHD | |
| State Street SPDR S&P 500 ETF | 0.38 | 0.44 | 0.51 | 65 | S&P 500 | ASPN vs SPY | |
| State Street SPDR Portfolio S&P 500 ETF | 0.38 | 0.44 | 0.50 | 66 | S&P 500 | ASPN vs SPYM | |
| Vanguard S&P 500 ETF | 0.38 | 0.44 | 0.50 | 66 | S&P 500 | ASPN vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ASPN, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ASPN and solid risk/return profiles. The least correlated is Philip Morris International Inc. (PM) (Consumer Defensive) with a 1Y correlation of -0.17, down from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Philip Morris International Inc. | -0.17 | -0.02 | 0.05 | 52 | Consumer Defensive | |
| Johnson & Johnson | -0.13 | -0.06 | -0.00 | 96 | Healthcare | |
| McKesson Corporation | -0.07 | -0.05 | 0.03 | 62 | Healthcare | |
| AbbVie Inc. | -0.06 | 0.05 | 0.05 | 81 | Healthcare | |
| Berkshire Hathaway Inc. | 0.02 | 0.14 | 0.26 | 53 | Financial Services |
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