Looking to balance out your exposure to GOOG? The ETFs below have historically moved differently from GOOG, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for GOOG
113 ETFs have low correlation with GOOG (below 0.3), 21 of which are negatively correlated. The least correlated is Vanguard Energy ETF (VDE) (Energy Equities) with a 1Y correlation of -0.21, down from 0.11 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Energy ETF | -0.21 | -0.00 | 0.11 | 61 | Energy Equities | GOOG vs VDE | |
| iShares Global Energy ETF | -0.21 | 0.00 | 0.12 | 66 | Energy Equities | GOOG vs IXC | |
| State Street Energy Select Sector SPDR ETF | -0.20 | -0.01 | 0.10 | 61 | Energy Equities | GOOG vs XLE | |
| Fidelity MSCI Energy Index ETF | -0.19 | 0.00 | 0.11 | 62 | Energy Equities | GOOG vs FENY | |
| Global X MLP & Energy Infrastructure ETF | -0.19 | 0.05 | 0.18 | 57 | Infrastructure Equities, MLPs | GOOG vs MLPX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for GOOG, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is EOG Resources, Inc. (EOG) (Energy) with a 1Y correlation of -0.27, down from 0.06 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| EOG Resources, Inc. | -0.27 | -0.05 | 0.06 | 61 | Energy | |
| Equinor ASA | -0.27 | -0.03 | 0.03 | 82 | Energy | |
| Consolidated Edison, Inc. | -0.27 | -0.17 | -0.04 | 56 | Utilities | |
| Occidental Petroleum Corporation | -0.25 | -0.02 | 0.10 | 65 | Energy | |
| Chevron Corporation | -0.24 | -0.05 | 0.07 | 72 | Energy |
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