Looking to balance out your exposure to GMED? The ETFs below have the lowest correlation with GMED — they tend to move on their own, which can help reduce risk when GMED drops. The stock ideas table highlights individual companies that behave independently from GMED.
Best Diversifiers for GMED
0 ETFs have low correlation with GMED (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.34, down from 0.45 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.34 | 0.38 | 0.45 | 73 | Nasdaq-100 | GMED vs QQQ | |
| Vanguard S&P 500 ETF | 0.46 | 0.48 | 0.53 | 70 | S&P 500 | GMED vs VOO | |
| State Street SPDR S&P 500 ETF | 0.47 | 0.48 | 0.53 | 70 | S&P 500 | GMED vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from GMED, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to GMED and solid risk/return profiles. The least correlated is Cboe Global Markets, Inc. (CBOE) (Financial Services) with a 1Y correlation of -0.09, down from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cboe Global Markets, Inc. | -0.09 | -0.05 | 0.08 | 68 | Financial Services | |
| Exxon Mobil Corporation | -0.01 | 0.10 | 0.18 | 85 | Energy | |
| Accelleron Industries AG ADR | 0.00 | 0.16 | 0.18 | 87 | Industrials | |
| JSC National Atomic Company Kazatomprom | 0.04 | 0.04 | 0.05 | 89 | Energy | |
| Osisko Gold Royalties Ltd | 0.06 | 0.12 | 0.17 | 61 | Basic Materials |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements GMED
Add GMED to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with GMED