Looking to balance out your exposure to GHM? The ETFs below have historically moved differently from GHM, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for GHM
0 ETFs have low correlation with GHM (below 0.3), 0 of which are negatively correlated. The least correlated is First Trust NASDAQ-100 Technology Sector Index Fund (QTEC) (Nasdaq-100) with a 1Y correlation of 0.43, roughly unchanged from 0.34 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| First Trust NASDAQ-100 Technology Sector Index Fun... | 0.43 | 0.44 | 0.34 | 60 | Nasdaq-100, Technology Equities | GHM vs QTEC | |
| State Street SPDR S&P 500 ETF | 0.50 | 0.48 | 0.37 | 67 | S&P 500 | GHM vs SPY |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for GHM, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is The Coca-Cola Company (KO) (Consumer Defensive) with a 1Y correlation of -0.21, down from -0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Coca-Cola Company | -0.21 | -0.09 | -0.03 | 90 | Consumer Defensive | |
| Verizon Communications Inc. | -0.14 | -0.05 | 0.00 | 66 | Communication Services | |
| Chevron Corporation | -0.11 | 0.09 | 0.11 | 80 | Energy | |
| Johnson & Johnson | -0.06 | -0.03 | -0.01 | 97 | Healthcare | |
| Walmart Inc. | -0.05 | 0.06 | 0.08 | 62 | Consumer Defensive |
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