Looking to balance out your exposure to DOX? The ETFs below have the lowest correlation with DOX — they tend to move on their own, which can help reduce risk when DOX drops. The stock ideas table highlights individual companies that behave independently from DOX.
Best Diversifiers for DOX
3 ETFs have low correlation with DOX (below 0.3), 0 of which are negatively correlated. The least correlated is iShares U.S. Technology ETF (IYW) (Technology Equities) with a 1Y correlation of 0.21, down from 0.37 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares U.S. Technology ETF | 0.21 | 0.29 | 0.37 | 75 | Technology Equities | DOX vs IYW | |
| iShares MSCI EAFE Value ETF | 0.24 | 0.33 | 0.41 | 55 | Foreign Large Cap Equities | DOX vs EFV | |
| Invesco QQQ ETF | 0.25 | 0.32 | 0.39 | 73 | Nasdaq-100 | DOX vs QQQ | |
| iShares MSCI ACWI ETF | 0.32 | 0.42 | 0.49 | 66 | Global Equities | DOX vs ACWI | |
| Vanguard S&P 500 ETF | 0.32 | 0.42 | 0.50 | 70 | S&P 500 | DOX vs VOO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from DOX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to DOX and solid risk/return profiles. The least correlated is Corning Incorporated (GLW) (Technology) with a 1Y correlation of -0.03, down from 0.31 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Corning Incorporated | -0.03 | 0.23 | 0.31 | 98 | Technology | |
| Tenaris S.A. | 0.02 | 0.16 | 0.22 | 94 | Energy | |
| NVIDIA Corporation | 0.04 | 0.11 | 0.23 | 78 | Technology | |
| Apple Inc | 0.05 | 0.18 | 0.27 | 89 | Technology | |
| Teekay Tankers Ltd. | 0.06 | 0.05 | 0.10 | 82 | Energy |
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