Looking to balance out your exposure to IBDRY? The ETFs below have the lowest correlation with IBDRY — they tend to move on their own, which can help reduce risk when IBDRY drops. The stock ideas table highlights individual companies that behave independently from IBDRY.
Best Diversifiers for IBDRY
6 ETFs have low correlation with IBDRY (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco Solar ETF (TAN) (Alternative Energy Equities) with a 1Y correlation of 0.13, down from 0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco Solar ETF | 0.13 | 0.23 | 0.27 | 85 | Alternative Energy Equities | IBDRY vs TAN | |
| Invesco QQQ ETF | 0.17 | 0.16 | 0.26 | 73 | Nasdaq-100 | IBDRY vs QQQ | |
| WisdomTree Japan Hedged Equity Fund | 0.19 | 0.16 | 0.21 | 88 | Japan Equities | IBDRY vs DXJ | |
| Global X Genomics & Biotechnology ETF | 0.20 | 0.22 | 0.26 | 57 | Health & Biotech Equities | IBDRY vs GNOM | |
| Franklin FTSE South Korea ETF | 0.21 | 0.22 | 0.28 | 96 | Asia Pacific Equities | IBDRY vs FLKR |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from IBDRY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to IBDRY and solid risk/return profiles. The least correlated is Cboe Global Markets, Inc. (CBOE) (Financial Services) with a 1Y correlation of 0.01, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cboe Global Markets, Inc. | 0.01 | 0.06 | 0.18 | 68 | Financial Services | |
| Symbotic Inc | 0.01 | 0.12 | 0.10 | 64 | Industrials | |
| Joby Aviation, Inc. | 0.03 | 0.12 | 0.15 | 57 | Industrials | |
| Taiwan Semiconductor Manufacturing Company Limited | 0.04 | 0.10 | 0.14 | 95 | Technology | |
| Tesla, Inc. | 0.04 | 0.10 | 0.13 | 55 | Consumer Cyclical |
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