Looking to balance out your exposure to DAKT? The ETFs below have the lowest correlation with DAKT — they tend to move on their own, which can help reduce risk when DAKT drops. The stock ideas table highlights individual companies that behave independently from DAKT.
Best Diversifiers for DAKT
1 ETFs have low correlation with DAKT (below 0.3), 1 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.02, roughly unchanged from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.02 | 0.02 | 0.03 | 100 | Ultrashort Bond | DAKT vs SGOV | |
| VanEck Vectors Investment Grade Floating Rate ETF | 0.35 | 0.18 | 0.17 | 99 | Corporate Bonds | DAKT vs FLTR | |
| Vanguard S&P 500 ETF | 0.45 | 0.41 | 0.41 | 70 | S&P 500 | DAKT vs VOO | |
| State Street SPDR S&P 500 ETF | 0.45 | 0.41 | 0.41 | 70 | S&P 500 | DAKT vs SPY | |
| First Trust Nasdaq Clean Edge Smart GRID Infrastru... | 0.47 | 0.44 | 0.43 | 79 | Alternative Energy Equities | DAKT vs GRID |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from DAKT, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to DAKT and solid risk/return profiles. The least correlated is Cboe Global Markets, Inc. (CBOE) (Financial Services) with a 1Y correlation of -0.13, down from 0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cboe Global Markets, Inc. | -0.13 | -0.08 | 0.02 | 68 | Financial Services | |
| Insmed Incorporated | -0.07 | 0.08 | 0.12 | 62 | Healthcare | |
| Altria Group, Inc. | -0.06 | 0.01 | 0.07 | 69 | Consumer Defensive | |
| Kinder Morgan, Inc. | 0.01 | 0.18 | 0.22 | 60 | Energy | |
| Repsol SA | 0.02 | 0.11 | 0.16 | 95 | Energy |
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