Looking to balance out your exposure to DRD? The ETFs below have the lowest correlation with DRD — they tend to move on their own, which can help reduce risk when DRD drops. The stock ideas table highlights individual companies that behave independently from DRD.
Best Diversifiers for DRD
1 ETFs have low correlation with DRD (below 0.3), 0 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of 0.06, roughly unchanged from 0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | 0.06 | 0.01 | 0.02 | 100 | Ultrashort Bond | DRD vs SGOV | |
| Invesco QQQ ETF | 0.31 | 0.19 | 0.17 | 58 | Nasdaq-100 | DRD vs QQQ | |
| iShares Core S&P 500 ETF | 0.32 | 0.22 | 0.21 | 66 | S&P 500 | DRD vs IVV | |
| State Street SPDR S&P 500 ETF | 0.32 | 0.21 | 0.21 | 66 | S&P 500 | DRD vs SPY | |
| Vanguard S&P 500 ETF | 0.33 | 0.21 | 0.21 | 66 | S&P 500 | DRD vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from DRD, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to DRD and solid risk/return profiles. The least correlated is Universal Insurance Holdings, Inc. (UVE) (Financial Services) with a 1Y correlation of -0.06, down from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Universal Insurance Holdings, Inc. | -0.06 | 0.03 | 0.07 | 93 | Financial Services | |
| Centene Corporation | -0.03 | 0.00 | 0.06 | 91 | Healthcare | |
| AXIS Capital Holdings Limited | -0.03 | 0.01 | 0.07 | 72 | Financial Services | |
| The Hanover Insurance Group, Inc. | -0.02 | 0.02 | 0.06 | 87 | Financial Services | |
| Virtu Financial, Inc. | -0.01 | 0.05 | 0.09 | 81 | Financial Services |
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