Looking to balance out your exposure to ESTC? The ETFs below have the lowest correlation with ESTC — they tend to move on their own, which can help reduce risk when ESTC drops. The stock ideas table highlights individual companies that behave independently from ESTC.
Best Diversifiers for ESTC
2 ETFs have low correlation with ESTC (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 0.29, down from 0.52 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.29 | 0.42 | 0.52 | 70 | S&P 500 | ESTC vs SPY | |
| Invesco QQQ ETF | 0.30 | 0.44 | 0.57 | 73 | Nasdaq-100 | ESTC vs QQQ |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ESTC, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ESTC and solid risk/return profiles. The least correlated is CVS Health Corporation (CVS) (Healthcare) with a 1Y correlation of -0.13, down from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| CVS Health Corporation | -0.13 | -0.01 | 0.04 | 80 | Healthcare | |
| Apple Inc | 0.06 | 0.21 | 0.36 | 89 | Technology | |
| Palo Alto Networks, Inc. | 0.52 | 0.49 | 0.55 | 67 | Technology | |
| CrowdStrike Holdings, Inc. | 0.59 | 0.56 | 0.64 | 70 | Technology | |
| Datadog, Inc. | 0.60 | 0.60 | 0.69 | 81 | Technology |
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