Looking to balance out your exposure to GPI? The ETFs below have the lowest correlation with GPI — they tend to move on their own, which can help reduce risk when GPI drops. The stock ideas table highlights individual companies that behave independently from GPI.
Best Diversifiers for GPI
2 ETFs have low correlation with GPI (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.25, roughly unchanged from 0.34 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.25 | 0.31 | 0.34 | 73 | Nasdaq-100 | GPI vs QQQ | |
| Goldman Sachs Nasdaq-100 Core Premium Income ETF | 0.25 | — | — | 81 | Nasdaq-100, Dividend | GPI vs GPIQ | |
| Vanguard S&P 500 ETF | 0.34 | 0.42 | 0.44 | 70 | S&P 500 | GPI vs VOO | |
| State Street SPDR S&P 500 ETF | 0.34 | 0.42 | 0.44 | 70 | S&P 500 | GPI vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from GPI, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to GPI and solid risk/return profiles. The least correlated is Apache Corporation (APA) (Energy) with a 1Y correlation of -0.04, down from 0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Apache Corporation | -0.04 | 0.21 | 0.27 | 90 | Energy | |
| Plains All American Pipeline, L.P. | -0.03 | 0.18 | 0.27 | 87 | Energy | |
| Marathon Petroleum Corporation | 0.02 | 0.24 | 0.29 | 86 | Energy | |
| Frontline Ltd. | 0.05 | 0.11 | 0.15 | 89 | Energy | |
| Teekay Tankers Ltd. | 0.08 | 0.11 | 0.15 | 82 | Energy |
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