Looking to balance out your exposure to GHM? The ETFs below have the lowest correlation with GHM — they tend to move on their own, which can help reduce risk when GHM drops. The stock ideas table highlights individual companies that behave independently from GHM.
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 0.39, roughly unchanged from 0.33 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| First Trust NASDAQ-100 Technology Sector Index Fun... | 0.39 | 0.42 | 0.33 | 66 | Nasdaq-100, Technology Equities | GHM vs QTEC | |
| State Street SPDR S&P 500 ETF | 0.48 | 0.47 | 0.37 | 59 | S&P 500 | GHM vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from GHM, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to GHM and solid risk/return profiles. The least correlated is The Coca-Cola Company (KO) (Consumer Defensive) with a 1Y correlation of -0.13, down from -0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Coca-Cola Company | -0.13 | -0.07 | -0.01 | 74 | Consumer Defensive | |
| Verizon Communications Inc. | -0.11 | -0.04 | 0.01 | 66 | Communication Services | |
| Chevron Corporation | -0.08 | 0.11 | 0.13 | 70 | Energy | |
| Johnson & Johnson | -0.01 | -0.01 | 0.01 | 96 | Healthcare | |
| Walmart Inc. | 0.02 | 0.09 | 0.09 | 69 | Consumer Defensive |
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