Looking to balance out your exposure to GRNT? The ETFs below have historically moved differently from GRNT, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for GRNT
1 ETFs have low correlation with GRNT (below 0.3), 1 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of -0.10, down from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | -0.10 | 0.15 | 0.12 | 67 | S&P 500 | GRNT vs SPY | |
| State Street Energy Select Sector SPDR ETF | 0.66 | 0.62 | 0.41 | 76 | Energy Equities | GRNT vs XLE |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for GRNT, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Kimbell Royalty Partners, LP (KRP) (Energy) with a 1Y correlation of 0.61, up from 0.35 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Kimbell Royalty Partners, LP | 0.61 | 0.55 | 0.35 | 59 | Energy |
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