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
1 ETFs have low correlation with FIGS (below 0.3), 0 of which are negatively correlated. The least correlated is Defiance Daily Target 2X Long AVGO ETF (AVGX) (Leveraged Equities) with a 1Y correlation of 0.19, roughly unchanged from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Defiance Daily Target 2X Long AVGO ETF | 0.19 | 0.20 | 0.20 | 50 | Leveraged Equities | FIGS vs AVGX | |
| Global X NASDAQ 100 Covered Call ETF | 0.30 | 0.25 | 0.37 | 88 | Nasdaq-100, Derivative Income | FIGS vs QYLD | |
| Invesco QQQ ETF | 0.32 | 0.28 | 0.40 | 73 | Nasdaq-100 | FIGS vs QQQ | |
| Direxion Daily Small Cap Bull 3X Shares | 0.43 | 0.45 | 0.51 | 59 | Leveraged 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 Cboe Global Markets, Inc. (CBOE) (Financial Services) with a 1Y correlation of -0.12, down from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cboe Global Markets, Inc. | -0.12 | -0.08 | 0.04 | 68 | Financial Services | |
| Exxon Mobil Corporation | -0.09 | 0.05 | 0.07 | 85 | Energy | |
| Elbit Systems Ltd | -0.03 | 0.07 | 0.14 | 88 | Industrials | |
| Kratos Defense & Security Solutions, Inc. | 0.02 | 0.13 | 0.25 | 60 | Industrials | |
| Sprott Inc | 0.07 | 0.16 | 0.21 | 89 | Financial Services |
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