Looking to balance out your exposure to GOOG? The ETFs below have the lowest correlation with GOOG — they tend to move on their own, which can help reduce risk when GOOG drops. The stock ideas table highlights individual companies that behave independently from GOOG.
Best Diversifiers for GOOG
102 ETFs have low correlation with GOOG (below 0.3), 19 of which are negatively correlated. The least correlated is State Street Energy Select Sector SPDR ETF (XLE) (Energy Equities) with a 1Y correlation of -0.18, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Energy Select Sector SPDR ETF | -0.18 | -0.00 | 0.11 | 59 | Energy Equities | GOOG vs XLE | |
| Vanguard Energy ETF | -0.17 | 0.01 | 0.12 | 60 | Energy Equities | GOOG vs VDE | |
| iShares Global Energy ETF | -0.16 | 0.02 | 0.13 | 65 | Energy Equities | GOOG vs IXC | |
| Global X MLP & Energy Infrastructure ETF | -0.16 | 0.06 | 0.19 | 75 | MLPs | GOOG vs MLPX | |
| Fidelity MSCI Energy Index ETF | -0.14 | 0.00 | 0.11 | 60 | Energy Equities | GOOG vs FENY |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from GOOG, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to GOOG and solid risk/return profiles. The least correlated is Cheniere Energy, Inc. (LNG) (Energy) with a 1Y correlation of -0.27, down from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cheniere Energy, Inc. | -0.27 | -0.03 | 0.07 | 57 | Energy | |
| Equinor ASA | -0.25 | -0.02 | 0.04 | 77 | Energy | |
| Occidental Petroleum Corporation | -0.25 | -0.01 | 0.11 | 67 | Energy | |
| EOG Resources, Inc. | -0.24 | -0.03 | 0.07 | 66 | Energy | |
| Consolidated Edison, Inc. | -0.24 | -0.17 | -0.03 | 70 | Utilities |
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