Looking to balance out your exposure to DAO? The ETFs below have historically moved differently from DAO, 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 DAO
1 ETFs have low correlation with DAO (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.22, roughly unchanged from 0.26 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.22 | 0.20 | 0.26 | 67 | S&P 500 | DAO vs SPY |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for DAO, 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 Jabil Inc. (JBL) (Technology) with a 1Y correlation of 0.08, roughly unchanged from 0.17 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Jabil Inc. | 0.08 | 0.11 | 0.17 | 73 | Technology | |
| Howmet Aerospace Inc. | 0.09 | 0.08 | 0.14 | 90 | Industrials | |
| AST SpaceMobile, Inc. | 0.10 | 0.14 | 0.19 | 52 | Technology | |
| Covista Inc. | 0.10 | 0.15 | 0.11 | 51 | Consumer Defensive | |
| Elbit Systems Ltd. | 0.16 | 0.07 | 0.06 | 85 | Industrials |
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