Looking to balance out your exposure to ETON? The ETFs below have historically moved differently from ETON, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for ETON
2 ETFs have low correlation with ETON (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 0.09, down from 0.24 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.09 | 0.20 | 0.24 | 72 | S&P 500 | ETON vs SPY | |
| Global X MSCI Greece ETF | 0.10 | 0.08 | 0.14 | 51 | Emerging Markets Equities | ETON vs GREK |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ETON, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is ChipMOS TECHNOLOGIES INC. (IMOS) (Technology) with a 1Y correlation of -0.04, down from 0.11 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ChipMOS TECHNOLOGIES INC. | -0.04 | 0.05 | 0.11 | 94 | Technology | |
| Nordic American Tankers Limited | -0.02 | 0.03 | 0.10 | 98 | Industrials | |
| Monolithic Power Systems, Inc. | -0.02 | 0.07 | 0.15 | 77 | Technology | |
| Verizon Communications Inc. | -0.01 | 0.03 | 0.04 | 63 | Communication Services | |
| Everpure, Inc. | -0.01 | 0.13 | 0.18 | 66 | Technology |
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