Looking to balance out your exposure to DNOPY? The ETFs below have the lowest correlation with DNOPY — they tend to move on their own, which can help reduce risk when DNOPY drops. The stock ideas table highlights individual companies that behave independently from DNOPY.
Best Diversifiers for DNOPY
2 ETFs have low correlation with DNOPY (below 0.3), 0 of which are negatively correlated. The least correlated is VanEck Semiconductor ETF (SMH) (Semiconductors) with a 1Y correlation of 0.18, roughly unchanged from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| VanEck Semiconductor ETF | 0.18 | 0.15 | 0.12 | 94 | Semiconductors, Technology Equities | DNOPY vs SMH | |
| State Street SPDR S&P 500 ETF | 0.24 | 0.20 | 0.14 | 59 | S&P 500 | DNOPY vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from DNOPY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to DNOPY and solid risk/return profiles. The least correlated is Kontoor Brands, Inc. (KTB) (Consumer Cyclical) with a 1Y correlation of -0.01, roughly unchanged from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Kontoor Brands, Inc. | -0.01 | 0.04 | 0.04 | 57 | Consumer Cyclical | |
| Valaris Limited | 0.03 | 0.08 | 0.07 | 81 | Energy | |
| D-Wave Quantum Inc | 0.04 | 0.09 | 0.05 | 64 | Technology | |
| AppLovin Corporation | 0.06 | 0.10 | 0.07 | 60 | Communication Services | |
| First Solar, Inc. | 0.07 | 0.06 | 0.05 | 76 | Technology |
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