Looking to balance out your exposure to COMP? The ETFs below have historically moved differently from COMP, 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 COMP
1 ETFs have low correlation with COMP (below 0.3), 0 of which are negatively correlated. The least correlated is ProShares Nasdaq-100 Dorsey Wright Momentum ETF (QQQA) (Nasdaq-100) with a 1Y correlation of 0.26, down from 0.39 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Nasdaq-100 Dorsey Wright Momentum ETF | 0.26 | 0.32 | 0.39 | 69 | Nasdaq-100, Momentum | COMP vs QQQA | |
| Invesco QQQ ETF | 0.31 | 0.36 | 0.45 | 54 | Nasdaq-100 | COMP vs QQQ | |
| Vanguard S&P 500 ETF | 0.37 | 0.42 | 0.48 | 72 | S&P 500 | COMP vs VOO |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for COMP, 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 Emera Inc (EMA) (Utilities) with a 1Y correlation of -0.17, roughly unchanged from -0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Emera Inc | -0.17 | -0.15 | -0.15 | 76 | Utilities | |
| Philip Morris International Inc. | -0.05 | 0.06 | 0.10 | 63 | Consumer Defensive | |
| Cencora Inc. | -0.02 | -0.05 | 0.00 | 50 | Healthcare | |
| Welltower Inc. | 0.01 | 0.10 | 0.17 | 87 | Real Estate | |
| Seagate Technology plc | 0.05 | 0.18 | 0.27 | 99 | Technology |
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