Looking to balance out your exposure to GLDD? The ETFs below have the lowest correlation with GLDD — they tend to move on their own, which can help reduce risk when GLDD drops. The stock ideas table highlights individual companies that behave independently from GLDD.
Best Diversifiers for GLDD
0 ETFs have low correlation with GLDD (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.41, roughly unchanged from 0.45 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.41 | 0.40 | 0.45 | 70 | S&P 500 | GLDD vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from GLDD, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to GLDD and solid risk/return profiles. The least correlated is Nektar Therapeutics (NKTR) (Healthcare) with a 1Y correlation of 0.13, roughly unchanged from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Nektar Therapeutics | 0.13 | 0.19 | 0.22 | 95 | Healthcare | |
| Edison International | 0.18 | 0.18 | 0.22 | 77 | Utilities | |
| Ross Stores, Inc. | 0.22 | 0.23 | 0.28 | 93 | Consumer Cyclical | |
| Ciena Corporation | 0.29 | 0.37 | 0.37 | 99 | Technology | |
| FormFactor, Inc. | 0.30 | 0.31 | 0.34 | 96 | Technology |
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