Looking to balance out your exposure to GORO? The ETFs below have the lowest correlation with GORO — they tend to move on their own, which can help reduce risk when GORO drops. The stock ideas table highlights individual companies that behave independently from GORO.
No Diversifiers Found for GORO
We do not have enough correlation history to rank diversifiers for this symbol yet.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from GORO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to GORO and solid risk/return profiles. The least correlated is Uranium Energy Corp. (UEC) (Energy) with a 1Y correlation of 0.33, roughly unchanged from 0.26 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Uranium Energy Corp. | 0.33 | 0.23 | 0.26 | 79 | Energy | |
| Taseko Mines Limited | 0.44 | 0.33 | 0.34 | 93 | Basic Materials | |
| Equinox Gold Corp. | 0.45 | 0.42 | 0.47 | 69 | Basic Materials | |
| Franco-Nevada Corporation | 0.47 | 0.38 | 0.44 | 65 | Basic Materials | |
| Royal Gold, Inc. | 0.47 | 0.40 | 0.46 | 53 | Basic Materials |
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