Looking to balance out your exposure to ETON? The ETFs below have the lowest correlation with ETON — they tend to move on their own, which can help reduce risk when ETON drops. The stock ideas table highlights individual companies that behave independently from ETON.
Best Diversifiers for ETON
1 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 0.11, down from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.11 | 0.20 | 0.25 | 66 | S&P 500 | ETON vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ETON, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ETON and solid risk/return profiles. The least correlated is ChipMOS TECHNOLOGIES INC. (IMOS) (Technology) with a 1Y correlation of -0.04, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ChipMOS TECHNOLOGIES INC. | -0.04 | 0.05 | 0.12 | 97 | Technology | |
| Monolithic Power Systems, Inc. | -0.01 | 0.06 | 0.15 | 87 | Technology | |
| Scholastic Corporation | -0.00 | 0.11 | 0.12 | 97 | Communication Services | |
| Nabors Industries Ltd. | 0.00 | 0.08 | 0.14 | 93 | Energy | |
| Verizon Communications Inc. | 0.01 | 0.03 | 0.04 | 57 | Communication Services |
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