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
6 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 0.04, roughly unchanged from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | 0.04 | 0.01 | 0.03 | 100 | Ultrashort Bond | DRD vs SGOV | |
| State Street SPDR S&P 500 ETF | 0.25 | 0.20 | 0.20 | 70 | S&P 500 | DRD vs SPY | |
| Vanguard S&P 500 ETF | 0.25 | 0.20 | 0.20 | 70 | S&P 500 | DRD vs VOO | |
| Invesco QQQ ETF | 0.26 | 0.18 | 0.16 | 73 | Nasdaq-100 | DRD vs QQQ | |
| iShares Core S&P 500 ETF | 0.26 | 0.20 | 0.20 | 70 | S&P 500 | DRD vs IVV |
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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 Virtu Financial, Inc. (VIRT) (Financial Services) with a 1Y correlation of 0.02, roughly unchanged from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Virtu Financial, Inc. | 0.02 | 0.06 | 0.10 | 64 | Financial Services | |
| Corporación América Airports S.A. | 0.07 | 0.14 | 0.11 | 61 | Industrials | |
| Halozyme Therapeutics, Inc. | 0.13 | 0.11 | 0.09 | 66 | Healthcare | |
| DHT Holdings, Inc. | 0.15 | 0.15 | 0.15 | 82 | Energy | |
| Teekay Corporation | 0.17 | 0.16 | 0.18 | 84 | Energy |
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Build a portfolio that complements DRD
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Analyze a portfolio with DRD