Looking to balance out your exposure to EGHT? The ETFs below have historically moved differently from EGHT, 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 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 0.20, down from 0.44 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.20 | 0.35 | 0.44 | 78 | S&P 500 | EGHT vs SPY |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for EGHT, 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 Cardinal Health, Inc. (CAH) (Healthcare) with a 1Y correlation of -0.01, roughly unchanged from 0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cardinal Health, Inc. | -0.01 | -0.01 | 0.04 | 87 | Healthcare | |
| Datadog, Inc. | 0.31 | 0.34 | 0.44 | 83 | Technology |
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