Looking to balance out your exposure to ESP? The ETFs below have the lowest correlation with ESP — they tend to move on their own, which can help reduce risk when ESP drops. The stock ideas table highlights individual companies that behave independently from ESP.
Best Diversifiers for ESP
1 ETFs have low correlation with ESP (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, roughly unchanged from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.20 | 0.23 | 0.18 | 70 | S&P 500 | ESP vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ESP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ESP and solid risk/return profiles. The least correlated is BorgWarner Inc. (BWA) (Consumer Cyclical) with a 1Y correlation of 0.14, roughly unchanged from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| BorgWarner Inc. | 0.14 | 0.14 | 0.12 | 95 | Consumer Cyclical | |
| Great Lakes Dredge & Dock Corporation | 0.15 | 0.18 | 0.12 | 83 | Industrials | |
| Powell Industries, Inc. | 0.18 | 0.17 | 0.12 | 98 | Industrials | |
| EnerSys | 0.19 | 0.18 | 0.15 | 98 | Industrials |
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