Looking to balance out your exposure to FRD? The ETFs below have the lowest correlation with FRD — they tend to move on their own, which can help reduce risk when FRD drops. The stock ideas table highlights individual companies that behave independently from FRD.
No Diversifiers Found for FRD
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 FRD, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FRD and solid risk/return profiles. The least correlated is American Electric Power Company, Inc. (AEP) (Utilities) with a 1Y correlation of -0.01, roughly unchanged from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| American Electric Power Company, Inc. | -0.01 | 0.02 | 0.05 | 79 | Utilities | |
| Himax Technologies, Inc. | 0.10 | 0.16 | 0.16 | 92 | Technology | |
| Lantheus Holdings, Inc. | 0.11 | 0.08 | 0.11 | 57 | Healthcare | |
| SSR Mining Inc. | 0.12 | 0.11 | 0.12 | 86 | Basic Materials | |
| Oceaneering International, Inc. | 0.18 | 0.17 | 0.24 | 88 | Energy |
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