Looking to balance out your exposure to DNOPY? The ETFs below have historically moved differently from DNOPY, 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 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 0.14, roughly unchanged from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| VanEck Semiconductor ETF | 0.14 | 0.14 | 0.12 | 87 | Semiconductors, Technology Equities | DNOPY vs SMH | |
| State Street SPDR S&P 500 ETF | 0.22 | 0.20 | 0.15 | 67 | S&P 500 | DNOPY vs SPY |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for DNOPY, 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 Realty Income Corporation (O) (Real Estate) with a 1Y correlation of -0.03, roughly unchanged from 0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Realty Income Corporation | -0.03 | 0.01 | 0.04 | 77 | Real Estate | |
| Kontoor Brands, Inc. | 0.00 | 0.04 | 0.04 | 76 | Consumer Cyclical | |
| Berkshire Hathaway Inc. | 0.02 | 0.05 | 0.06 | 61 | Financial Services | |
| Ameriprise Financial, Inc. | 0.02 | 0.05 | 0.06 | 51 | Financial Services | |
| Valaris Limited | 0.02 | 0.06 | 0.07 | 78 | Energy |
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