Looking to balance out your exposure to DKNG? The ETFs below have the lowest correlation with DKNG — they tend to move on their own, which can help reduce risk when DKNG drops. The stock ideas table highlights individual companies that behave independently from DKNG.
Best Diversifiers for DKNG
11 ETFs have low correlation with DKNG (below 0.3), 0 of which are negatively correlated. The least correlated is VanEck Semiconductor ETF (SMH) (Semiconductors) with a 1Y correlation of 0.05, down from 0.42 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| VanEck Semiconductor ETF | 0.05 | 0.34 | 0.42 | 95 | Semiconductors, Technology Equities | DKNG vs SMH | |
| Global X Copper Miners ETF | 0.07 | 0.21 | 0.26 | 61 | Copper | DKNG vs COPX | |
| Schwab U.S. Dividend Equity ETF | 0.09 | 0.24 | 0.32 | 87 | Dividend | DKNG vs SCHD | |
| iShares Nasdaq Biotechnology ETF | 0.11 | 0.27 | 0.42 | 81 | Health & Biotech Equities | DKNG vs IBB | |
| Invesco QQQ ETF | 0.13 | 0.40 | 0.49 | 64 | Nasdaq-100 | DKNG vs QQQ |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from DKNG, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to DKNG and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.12, down from -0.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.12 | -0.08 | -0.00 | 78 | Consumer Defensive | |
| The Coca-Cola Company | -0.09 | -0.01 | 0.02 | 76 | Consumer Defensive | |
| United Therapeutics Corporation | -0.07 | 0.11 | 0.12 | 94 | Healthcare | |
| British American Tobacco p.l.c. | -0.03 | 0.00 | 0.06 | 82 | Consumer Defensive | |
| Exxon Mobil Corporation | -0.03 | 0.01 | 0.09 | 75 | Energy |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements DKNG
Add DKNG to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with DKNG