Looking to balance out your exposure to GSK? The ETFs below have historically moved differently from GSK, 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 GSK
11 ETFs have low correlation with GSK (below 0.3), 3 of which are negatively correlated. The least correlated is State Street Technology Select Sector SPDR ETF (XLK) (Technology Equities) with a 1Y correlation of -0.07, 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 Technology Select Sector SPDR ETF | -0.07 | 0.04 | 0.12 | 62 | Technology Equities | GSK vs XLK | |
| VanEck Semiconductor ETF | -0.00 | 0.05 | 0.10 | 88 | Semiconductors, Technology Equities | GSK vs SMH | |
| iShares Semiconductor ETF | -0.00 | 0.07 | 0.11 | 90 | Semiconductors, Technology Equities | GSK vs SOXX | |
| Invesco QQQ ETF | 0.01 | 0.08 | 0.14 | 58 | Nasdaq-100 | GSK vs QQQ | |
| State Street SPDR S&P 500 ETF | 0.15 | 0.20 | 0.25 | 78 | S&P 500 | GSK vs SPY |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for GSK, 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 Broadcom Inc. (AVGO) (Technology) with a 1Y correlation of -0.13, down from 0.06 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Broadcom Inc. | -0.13 | 0.00 | 0.06 | 68 | Technology | |
| Advanced Micro Devices, Inc. | -0.08 | 0.01 | 0.05 | 94 | Technology | |
| Exxon Mobil Corporation | -0.07 | 0.03 | 0.09 | 85 | Energy | |
| Chevron Corporation | -0.07 | 0.02 | 0.10 | 79 | Energy | |
| ConocoPhillips Company | -0.06 | -0.01 | 0.07 | 73 | Energy |
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