Looking to balance out your exposure to DRUG? The ETFs below have the lowest correlation with DRUG — they tend to move on their own, which can help reduce risk when DRUG drops. The stock ideas table highlights individual companies that behave independently from DRUG.
Best Diversifiers for DRUG
1 ETFs have low correlation with DRUG (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.27, roughly unchanged from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.27 | 0.19 | 0.19 | 59 | Nasdaq-100 | DRUG vs QQQ |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from DRUG, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to DRUG and solid risk/return profiles. The least correlated is Red Cat Holdings, Inc. (RCAT) (Industrials) with a 1Y correlation of 0.07, roughly unchanged from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Red Cat Holdings, Inc. | 0.07 | 0.08 | 0.08 | 59 | Industrials | |
| Alliance Entertainment Holding Corporation Class A... | 0.11 | 0.04 | 0.04 | 76 | Communication Services | |
| AppLovin Corporation | 0.13 | 0.07 | 0.11 | 60 | Communication Services | |
| Intuitive Machines Inc. | 0.14 | 0.17 | 0.12 | 75 | Industrials | |
| NVIDIA Corporation | 0.16 | 0.11 | 0.14 | 72 | Technology |
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