Looking to balance out your exposure to DCO? The ETFs below have historically moved differently from DCO, 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 DCO
0 ETFs have low correlation with DCO (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco S&P 500 Momentum ETF (SPMO) (Momentum) with a 1Y correlation of 0.44, roughly unchanged from 0.42 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco S&P 500 Momentum ETF | 0.44 | 0.39 | 0.42 | 51 | Momentum, S&P 500 | DCO vs SPMO |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for DCO, 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 Paymentus Holdings, Inc. (PAY) (Technology) with a 1Y correlation of 0.01, down from 0.25 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Paymentus Holdings, Inc. | 0.01 | 0.19 | 0.25 | 57 | Technology | |
| Bill.com Holdings, Inc. | 0.03 | 0.21 | 0.24 | 53 | Technology | |
| Valero Energy Corporation | 0.04 | 0.14 | 0.21 | 98 | Energy | |
| The TJX Companies, Inc. | 0.12 | 0.20 | 0.28 | 81 | Consumer Cyclical | |
| AXT, Inc. | 0.14 | 0.16 | 0.23 | 99 | Technology |
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