Looking to balance out your exposure to GKOS? The ETFs below have the lowest correlation with GKOS — they tend to move on their own, which can help reduce risk when GKOS drops. The stock ideas table highlights individual companies that behave independently from GKOS.
Best Diversifiers for GKOS
4 ETFs have low correlation with GKOS (below 0.3), 0 of which are negatively correlated. The least correlated is VanEck Vectors Emerging Markets High Yield Bond ETF (HYEM) (High Yield Bonds) with a 1Y correlation of 0.19, roughly unchanged from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| VanEck Vectors Emerging Markets High Yield Bond ET... | 0.19 | 0.19 | 0.22 | 74 | High Yield Bonds | GKOS vs HYEM | |
| WisdomTree Interest Rate Hedged High Yield Bond Fu... | 0.21 | 0.28 | 0.34 | 84 | High Yield Bonds | GKOS vs HYZD | |
| First Trust Senior Loan Fund | 0.24 | 0.25 | 0.26 | 60 | High Yield Bonds | GKOS vs FTSL | |
| First Trust Preferred Securities & Income ETF | 0.29 | 0.27 | 0.31 | 54 | Preferred Stock/Convertible Bonds | GKOS vs FPE | |
| State Street SPDR S&P 500 ETF | 0.35 | 0.38 | 0.43 | 59 | S&P 500 | GKOS vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from GKOS, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to GKOS and solid risk/return profiles. The least correlated is Walmart Inc. (WMT) (Consumer Defensive) with a 1Y correlation of -0.07, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Walmart Inc. | -0.07 | 0.05 | 0.12 | 69 | Consumer Defensive | |
| Permian Resources Corporation | -0.07 | 0.08 | 0.12 | 75 | Energy | |
| Alliance Entertainment Holding Corporation Class A... | -0.05 | 0.07 | 0.06 | 76 | Communication Services | |
| YPF Sociedad Anónima | -0.04 | 0.07 | 0.13 | 67 | Energy | |
| AppLovin Corporation | 0.03 | 0.18 | 0.27 | 60 | Communication Services |
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