Looking to balance out your exposure to FARO? The ETFs below have the lowest correlation with FARO — they tend to move on their own, which can help reduce risk when FARO drops. The stock ideas table highlights individual companies that behave independently from FARO.
No Diversifiers Found for FARO
We do not have enough correlation history to rank diversifiers for this symbol yet.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FARO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FARO and solid risk/return profiles. The least correlated is Palo Alto Networks, Inc. (PANW) (Technology) with a 1Y correlation of -0.09, down from 0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Palo Alto Networks, Inc. | -0.09 | 0.19 | 0.27 | 69 | Technology | |
| D-Wave Quantum Inc | -0.06 | 0.25 | 0.21 | 61 | Technology | |
| Innodata Inc. | -0.04 | 0.29 | 0.31 | 81 | Technology | |
| Twilio Inc. | -0.04 | 0.32 | 0.43 | 83 | Communication Services | |
| Gold Fields Limited | -0.03 | 0.07 | 0.09 | 71 | Basic Materials |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements FARO
Add FARO to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with FARO