Looking to balance out your exposure to GRNT? The ETFs below have the lowest correlation with GRNT — they tend to move on their own, which can help reduce risk when GRNT drops. The stock ideas table highlights individual companies that behave independently from GRNT.
Best Diversifiers for GRNT
2 ETFs have low correlation with GRNT (below 0.3), 2 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of -0.08, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | -0.08 | 0.12 | 0.10 | 74 | Nasdaq-100 | GRNT vs QQQ | |
| State Street SPDR S&P 500 ETF | -0.04 | 0.18 | 0.13 | 74 | S&P 500 | GRNT vs SPY | |
| State Street Energy Select Sector SPDR ETF | 0.64 | 0.59 | 0.39 | 70 | Energy Equities | GRNT vs XLE |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from GRNT, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to GRNT and solid risk/return profiles. The least correlated is Kimbell Royalty Partners, LP (KRP) (Energy) with a 1Y correlation of 0.55, up from 0.33 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Kimbell Royalty Partners, LP | 0.55 | 0.52 | 0.33 | 73 | Energy |
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