Looking to balance out your exposure to EGHT? The ETFs below have the lowest correlation with EGHT — they tend to move on their own, which can help reduce risk when EGHT drops. The stock ideas table highlights individual companies that behave independently from EGHT.
Best Diversifiers for EGHT
1 ETFs have low correlation with EGHT (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.24, down from 0.45 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.24 | 0.37 | 0.45 | 70 | S&P 500 | EGHT vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from EGHT, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to EGHT and solid risk/return profiles. The least correlated is Cardinal Health, Inc. (CAH) (Healthcare) with a 1Y correlation of -0.06, roughly unchanged from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cardinal Health, Inc. | -0.06 | -0.03 | 0.04 | 68 | Healthcare | |
| Datadog, Inc. | 0.30 | 0.34 | 0.44 | 81 | Technology |
Build a portfolio that complements EGHT
Add EGHT to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with EGHT