Looking to balance out your exposure to ESOA? The ETFs below have the lowest correlation with ESOA — they tend to move on their own, which can help reduce risk when ESOA drops. The stock ideas table highlights individual companies that behave independently from ESOA.
Best Diversifiers for ESOA
0 ETFs have low correlation with ESOA (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco S&P 500 Momentum ETF (SPMO) (Momentum) with a 1Y correlation of 0.35, roughly unchanged from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco S&P 500 Momentum ETF | 0.35 | 0.32 | 0.25 | 75 | Momentum, S&P 500 | ESOA vs SPMO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ESOA, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ESOA and solid risk/return profiles. The least correlated is Adaro Energy Tbk PT ADR (ADOOY) (Energy) with a 1Y correlation of 0.01, roughly unchanged from 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Adaro Energy Tbk PT ADR | 0.01 | 0.03 | 0.01 | 56 | Energy | |
| Reddit, Inc. | 0.03 | — | — | 62 | Communication Services | |
| Walmart Inc. | 0.04 | 0.09 | 0.09 | 63 | Consumer Defensive | |
| TKO Group Holdings Inc. | 0.05 | 0.07 | 0.07 | 62 | Communication Services | |
| Tarsus Pharmaceuticals, Inc. | 0.05 | 0.12 | 0.08 | 64 | Healthcare |
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