Looking to balance out your exposure to ICAD? The ETFs below have the lowest correlation with ICAD — they tend to move on their own, which can help reduce risk when ICAD drops. The stock ideas table highlights individual companies that behave independently from ICAD.
Best Diversifiers for ICAD
2 ETFs have low correlation with ICAD (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard High Dividend Yield ETF (VYM) (Dividend) with a 1Y correlation of 0.10, down from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard High Dividend Yield ETF | 0.10 | 0.24 | 0.24 | 80 | Dividend | ICAD vs VYM | |
| State Street SPDR S&P 500 ETF | 0.15 | 0.24 | 0.28 | 74 | S&P 500 | ICAD vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ICAD, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ICAD and solid risk/return profiles. The least correlated is Kinross Gold Corporation (KGC) (Basic Materials) with a 1Y correlation of -0.07, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Kinross Gold Corporation | -0.07 | 0.12 | 0.09 | 81 | Basic Materials | |
| SkyWater Technology, Inc. | 0.14 | 0.16 | 0.22 | 94 | Technology | |
| Alphabet Inc. Class A | 0.16 | 0.13 | 0.20 | 96 | Communication Services |
Build a portfolio that complements ICAD
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