Looking to balance out your exposure to COVTY? The ETFs below have the lowest correlation with COVTY — they tend to move on their own, which can help reduce risk when COVTY drops. The stock ideas table highlights individual companies that behave independently from COVTY.
No Diversifiers Found for COVTY
We do not have enough correlation history to rank diversifiers for this symbol yet.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from COVTY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to COVTY and solid risk/return profiles. The least correlated is Exxon Mobil Corporation (XOM) (Energy) with a 1Y correlation of -0.01, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | -0.01 | 0.03 | 0.15 | 86 | Energy | |
| Grupo Bimbo SAB de CV ADR | -0.00 | 0.04 | 0.02 | 60 | Consumer Defensive | |
| TKO Group Holdings Inc. | 0.00 | 0.09 | 0.09 | 64 | Communication Services | |
| ConocoPhillips Company | 0.00 | 0.04 | 0.15 | 78 | Energy | |
| Northrop Grumman Corporation | 0.01 | 0.01 | 0.06 | 54 | Industrials |
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