Looking to balance out your exposure to GOFPY? The ETFs below have the lowest correlation with GOFPY — they tend to move on their own, which can help reduce risk when GOFPY drops. The stock ideas table highlights individual companies that behave independently from GOFPY.
Best Diversifiers for GOFPY
2 ETFs have low correlation with GOFPY (below 0.3), 0 of which are negatively correlated. The least correlated is iShares MSCI Global Silver and Metals Miners ETF (SLVP) (Silver) with a 1Y correlation of 0.09, roughly unchanged from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares MSCI Global Silver and Metals Miners ETF | 0.09 | 0.09 | 0.10 | 55 | Silver, Precious Metals | GOFPY vs SLVP | |
| Global X Copper Miners ETF | 0.14 | 0.11 | 0.13 | 75 | Materials | GOFPY vs COPX |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from GOFPY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to GOFPY and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of 0.02, roughly unchanged from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | 0.02 | 0.07 | 0.07 | 78 | Technology | |
| Taiwan Semiconductor Manufacturing Company Limited | 0.11 | 0.11 | 0.10 | 95 | Technology | |
| Apple Inc | 0.12 | 0.09 | 0.08 | 89 | Technology | |
| Alphabet Inc. Class A | 0.17 | 0.09 | 0.07 | 96 | Communication Services |
Build a portfolio that complements GOFPY
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