Looking to balance out your exposure to FIGS? The ETFs below have the lowest correlation with FIGS — they tend to move on their own, which can help reduce risk when FIGS drops. The stock ideas table highlights individual companies that behave independently from FIGS.
Best Diversifiers for FIGS
2 ETFs have low correlation with FIGS (below 0.3), 0 of which are negatively correlated. The least correlated is Global X NASDAQ 100 Covered Call ETF (QYLD) (Nasdaq-100) with a 1Y correlation of 0.21, down from 0.35 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X NASDAQ 100 Covered Call ETF | 0.21 | 0.23 | 0.35 | 85 | Nasdaq-100, Derivative Income | FIGS vs QYLD | |
| Invesco QQQ ETF | 0.23 | 0.25 | 0.39 | 53 | Nasdaq-100 | FIGS vs QQQ | |
| Direxion Daily Small Cap Bull 3X Shares | 0.33 | 0.42 | 0.51 | 65 | Leveraged Equities, Small Cap Blend Equities | FIGS vs TNA |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FIGS, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FIGS and solid risk/return profiles. The least correlated is Exxon Mobil Corporation (XOM) (Energy) with a 1Y correlation of -0.12, down from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | -0.12 | 0.02 | 0.07 | 78 | Energy | |
| Cboe Global Markets, Inc. | -0.09 | -0.07 | 0.04 | 60 | Financial Services | |
| Elbit Systems Ltd | -0.06 | 0.05 | 0.13 | 83 | Industrials | |
| Transportadora de Gas del Sur S.A. | -0.02 | 0.05 | 0.09 | 56 | Energy | |
| Bancolombia S.A. | 0.03 | 0.14 | 0.15 | 92 | Financial Services |
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