Looking to balance out your exposure to ESAB? The ETFs below have the lowest correlation with ESAB — they tend to move on their own, which can help reduce risk when ESAB drops. The stock ideas table highlights individual companies that behave independently from ESAB.
Best Diversifiers for ESAB
0 ETFs have low correlation with ESAB (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 ETF (VOO) (S&P 500) with a 1Y correlation of 0.40, down from 0.51 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.40 | 0.51 | — | 70 | S&P 500 | ESAB vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ESAB, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ESAB and solid risk/return profiles. The least correlated is JPMorgan Chase & Co. (JPM) (Financial Services) with a 1Y correlation of 0.32, roughly unchanged from 0.39 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| JPMorgan Chase & Co. | 0.32 | 0.39 | — | 59 | Financial Services | |
| Williams-Sonoma, Inc. | 0.45 | 0.42 | — | 65 | Consumer Cyclical | |
| AAON, Inc. | 0.50 | 0.50 | — | 69 | Industrials |
Build a portfolio that complements ESAB
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