Looking to balance out your exposure to FLG? The ETFs below have the lowest correlation with FLG — they tend to move on their own, which can help reduce risk when FLG drops. The stock ideas table highlights individual companies that behave independently from FLG.
Best Diversifiers for FLG
2 ETFs have low correlation with FLG (below 0.3), 0 of which are negatively correlated. The least correlated is SonicShares Global Shipping ETF (BOAT) (Transportation Equities) with a 1Y correlation of 0.20, roughly unchanged from 0.19 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SonicShares Global Shipping ETF | 0.20 | 0.19 | — | 73 | Transportation Equities | FLG vs BOAT | |
| Invesco QQQ ETF | 0.27 | 0.30 | 0.38 | 73 | Nasdaq-100 | FLG vs QQQ | |
| Vanguard S&P 500 ETF | 0.36 | 0.37 | 0.46 | 70 | S&P 500 | FLG vs VOO | |
| State Street SPDR S&P 500 ETF | 0.37 | 0.38 | 0.47 | 70 | S&P 500 | FLG vs SPY | |
| Invesco International BuyBack Achievers™ ETF | 0.38 | 0.37 | 0.44 | 54 | Global Equities | FLG vs IPKW |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FLG, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FLG and solid risk/return profiles. The least correlated is BP p.l.c. (BP) (Energy) with a 1Y correlation of -0.01, down from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| BP p.l.c. | -0.01 | 0.13 | 0.22 | 87 | Energy | |
| Kinder Morgan, Inc. | 0.00 | 0.16 | 0.28 | 60 | Energy | |
| The Coca-Cola Company | 0.02 | 0.05 | 0.14 | 66 | Consumer Defensive | |
| Energy Transfer LP | 0.08 | 0.20 | 0.28 | 69 | Energy | |
| Verizon Communications Inc. | 0.10 | 0.06 | 0.15 | 59 | Communication Services |
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