Looking to balance out your exposure to GLP? The ETFs below have the lowest correlation with GLP — they tend to move on their own, which can help reduce risk when GLP drops. The stock ideas table highlights individual companies that behave independently from GLP.
Best Diversifiers for GLP
2 ETFs have low correlation with GLP (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 0.07, down from 0.26 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.07 | 0.20 | 0.26 | 65 | S&P 500 | GLP vs SPY | |
| Vanguard Total Stock Market ETF | 0.07 | 0.21 | 0.27 | 66 | Large Cap Blend Equities | GLP vs VTI |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from GLP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to GLP and solid risk/return profiles. The least correlated is Williams-Sonoma, Inc. (WSM) (Consumer Cyclical) with a 1Y correlation of -0.03, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Williams-Sonoma, Inc. | -0.03 | 0.07 | 0.15 | 75 | Consumer Cyclical | |
| Celestica Inc. | 0.03 | 0.15 | 0.21 | 79 | Technology | |
| Coherent Corp. | 0.04 | 0.11 | 0.15 | 92 | Technology | |
| Applied Industrial Technologies, Inc. | 0.08 | 0.19 | 0.24 | 77 | Industrials | |
| Transportadora de Gas del Sur S.A. | 0.09 | 0.16 | 0.21 | 56 | Energy |
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