Looking to balance out your exposure to ESPR? The ETFs below have the lowest correlation with ESPR — they tend to move on their own, which can help reduce risk when ESPR drops. The stock ideas table highlights individual companies that behave independently from ESPR.
Best Diversifiers for ESPR
2 ETFs have low correlation with ESPR (below 0.3), 0 of which are negatively correlated. The least correlated is iShares MSCI Global Silver and Metals Miners ETF (SLVP) (Silver) with a 1Y correlation of 0.10, roughly unchanged from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares MSCI Global Silver and Metals Miners ETF | 0.10 | 0.14 | 0.11 | 55 | Silver, Precious Metals | ESPR vs SLVP | |
| Defiance Daily Target 2X Long AVGO ETF | 0.18 | — | — | 50 | Leveraged Equities | ESPR vs AVGX |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ESPR, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ESPR and solid risk/return profiles. The least correlated is Elbit Systems Ltd (ESLT) (Industrials) with a 1Y correlation of 0.06, roughly unchanged from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Elbit Systems Ltd | 0.06 | 0.10 | 0.10 | 88 | Industrials | |
| Gold Fields Limited | 0.11 | 0.06 | 0.04 | 69 | Basic Materials | |
| Companhia de Saneamento Básico do Estado de São Pa... | 0.12 | 0.09 | 0.11 | 71 | Utilities | |
| SSR Mining Inc. | 0.12 | 0.13 | 0.10 | 86 | Basic Materials | |
| Monolithic Power Systems, Inc. | 0.13 | 0.16 | 0.16 | 93 | Technology |
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