Looking to balance out your exposure to FLS? The ETFs below have the lowest correlation with FLS — they tend to move on their own, which can help reduce risk when FLS drops. The stock ideas table highlights individual companies that behave independently from FLS.
Best Diversifiers for FLS
1 ETFs have low correlation with FLS (below 0.3), 0 of which are negatively correlated. The least correlated is Janus Henderson AAA CLO ETF (JAAA) (CLO) with a 1Y correlation of 0.13, roughly unchanged from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Janus Henderson AAA CLO ETF | 0.13 | 0.10 | 0.11 | 98 | CLO | FLS vs JAAA | |
| Pacer US Cash Cows 100 ETF | 0.41 | 0.57 | 0.62 | 65 | Mid Cap Value Equities, Dividend | FLS vs COWZ | |
| State Street SPDR S&P 500 ETF | 0.58 | 0.58 | 0.60 | 70 | S&P 500 | FLS vs SPY | |
| Fidelity Small-Mid Multifactor ETF | 0.67 | 0.73 | 0.70 | 53 | Small Cap Growth Equities | FLS vs FSMD |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FLS, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FLS and solid risk/return profiles. The least correlated is Kinder Morgan, Inc. (KMI) (Energy) with a 1Y correlation of 0.01, down from 0.40 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Kinder Morgan, Inc. | 0.01 | 0.26 | 0.40 | 60 | Energy | |
| Eli Lilly and Company | 0.08 | 0.15 | 0.16 | 72 | Healthcare | |
| UnitedHealth Group Incorporated | 0.13 | 0.07 | 0.16 | 61 | Healthcare | |
| The Ensign Group, Inc. | 0.26 | 0.32 | 0.33 | 52 | Healthcare | |
| Cadence Design Systems, Inc. | 0.31 | 0.38 | 0.37 | 68 | Technology |
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