Looking to balance out your exposure to GPRO? The ETFs below have the lowest correlation with GPRO — they tend to move on their own, which can help reduce risk when GPRO drops. The stock ideas table highlights individual companies that behave independently from GPRO.
Best Diversifiers for GPRO
2 ETFs have low correlation with GPRO (below 0.3), 0 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of 0.04, roughly unchanged from -0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | 0.04 | 0.01 | -0.02 | 100 | Ultrashort Bond | GPRO vs SGOV | |
| JPMorgan Ultra-Short Income ETF | 0.16 | 0.11 | 0.10 | 99 | Ultrashort Bond | GPRO vs JPST | |
| SPDR Portfolio S&P 500 Value ETF | 0.31 | 0.39 | 0.47 | 66 | S&P 500, Large Cap Value Equities | GPRO vs SPYV | |
| Vanguard S&P 500 ETF | 0.33 | 0.39 | 0.48 | 70 | S&P 500 | GPRO vs VOO | |
| Vanguard FTSE All-World ex-US ETF | 0.34 | 0.41 | 0.48 | 60 | Foreign Large Cap Equities | GPRO vs VEU |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from GPRO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to GPRO and solid risk/return profiles. The least correlated is The Coca-Cola Company (KO) (Consumer Defensive) with a 1Y correlation of -0.20, down from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Coca-Cola Company | -0.20 | -0.08 | 0.03 | 66 | Consumer Defensive | |
| Walmart Inc. | -0.04 | 0.03 | 0.10 | 63 | Consumer Defensive | |
| Liberty Oilfield Services Inc. | 0.06 | 0.20 | 0.22 | 91 | Energy | |
| TKO Group Holdings Inc. | 0.12 | 0.12 | 0.12 | 62 | Communication Services | |
| Hecla Mining Company | 0.15 | 0.26 | 0.28 | 87 | Basic Materials |
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