Looking to balance out your exposure to ESGR? The ETFs below have the lowest correlation with ESGR — they tend to move on their own, which can help reduce risk when ESGR drops. The stock ideas table highlights individual companies that behave independently from ESGR.
Best Diversifiers for ESGR
2 ETFs have low correlation with ESGR (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 0.07, down from 0.32 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.07 | 0.25 | 0.32 | 70 | S&P 500 | ESGR vs SPY | |
| iShares ESG Aware MSCI EM ETF | 0.08 | 0.19 | 0.23 | 80 | Emerging Markets Equities | ESGR vs ESGE |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ESGR, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ESGR and solid risk/return profiles. The least correlated is First Solar, Inc. (FSLR) (Technology) with a 1Y correlation of -0.00, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| First Solar, Inc. | -0.00 | 0.11 | 0.12 | 81 | Technology | |
| Viper Energy Partners LP | -0.00 | 0.05 | 0.16 | 60 | Energy | |
| Diamondback Energy, Inc. | 0.00 | 0.10 | 0.21 | 82 | Energy | |
| Global Ship Lease, Inc. | 0.01 | 0.13 | 0.20 | 86 | Industrials | |
| Vista Oil & Gas, S.A.B. de C.V. | 0.01 | 0.06 | 0.11 | 68 | Energy |
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