Looking to balance out your exposure to ERIE? The ETFs below have the lowest correlation with ERIE — they tend to move on their own, which can help reduce risk when ERIE drops. The stock ideas table highlights individual companies that behave independently from ERIE.
Best Diversifiers for ERIE
9 ETFs have low correlation with ERIE (below 0.3), 6 of which are negatively correlated. The least correlated is iShares Semiconductor ETF (SOXX) (Semiconductors) with a 1Y correlation of -0.20, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Semiconductor ETF | -0.20 | -0.01 | 0.14 | 97 | Semiconductors, Technology Equities | ERIE vs SOXX | |
| Direxion Daily Semiconductor Bull 3X ETF | -0.20 | -0.01 | 0.14 | 97 | Leveraged Equities, Semiconductors | ERIE vs SOXL | |
| Direxion Daily Technology Bull 3X Shares | -0.17 | 0.03 | 0.18 | 85 | Leveraged Equities, Technology Equities | ERIE vs TECL | |
| Vanguard Information Technology ETF | -0.15 | 0.04 | 0.20 | 76 | Technology Equities | ERIE vs VGT | |
| Invesco NASDAQ 100 ETF | -0.12 | 0.06 | 0.21 | 74 | Nasdaq-100 | ERIE vs QQQM |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ERIE, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ERIE and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of -0.24, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | -0.24 | -0.06 | 0.09 | 78 | Technology | |
| Broadcom Inc. | -0.21 | -0.04 | 0.10 | 84 | Technology | |
| First Solar, Inc. | -0.16 | -0.04 | 0.11 | 81 | Technology | |
| Quanta Services, Inc. | -0.13 | 0.08 | 0.20 | 93 | Industrials | |
| Tesla, Inc. | -0.13 | -0.00 | 0.10 | 55 | Consumer Cyclical |
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