Looking to balance out your exposure to DRD? The ETFs below have historically moved differently from DRD, 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 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 0.05, roughly unchanged from 0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | 0.05 | 0.01 | 0.02 | 100 | Ultrashort Bond | DRD vs SGOV | |
| State Street SPDR Portfolio S&P 500 Growth ETF | 0.34 | 0.19 | 0.18 | 53 | S&P 500, Large Cap Growth Equities | DRD vs SPYG | |
| Invesco QQQ ETF | 0.35 | 0.19 | 0.17 | 58 | Nasdaq-100 | DRD vs QQQ | |
| iShares Core S&P 500 ETF | 0.35 | 0.21 | 0.21 | 78 | S&P 500 | DRD vs IVV | |
| State Street SPDR S&P 500 ETF | 0.35 | 0.22 | 0.21 | 78 | S&P 500 | DRD vs SPY |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for DRD, 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 Universal Insurance Holdings, Inc. (UVE) (Financial Services) with a 1Y correlation of -0.10, down from 0.06 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Universal Insurance Holdings, Inc. | -0.10 | 0.02 | 0.06 | 94 | Financial Services | |
| AXIS Capital Holdings Limited | -0.07 | 0.00 | 0.06 | 64 | Financial Services | |
| The Hanover Insurance Group, Inc. | -0.07 | 0.01 | 0.05 | 90 | Financial Services | |
| HCI Group, Inc. | -0.02 | 0.09 | 0.08 | 68 | Financial Services | |
| Berkshire Hathaway Inc. | -0.01 | 0.02 | 0.10 | 61 | Financial Services |
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