Looking to balance out your exposure to ICLR? The ETFs below have the lowest correlation with ICLR — they tend to move on their own, which can help reduce risk when ICLR drops. The stock ideas table highlights individual companies that behave independently from ICLR.
Best Diversifiers for ICLR
4 ETFs have low correlation with ICLR (below 0.3), 0 of which are negatively correlated. The least correlated is State Street Technology Select Sector SPDR ETF (XLK) (Technology Equities) with a 1Y correlation of 0.17, down from 0.42 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Technology Select Sector SPDR ETF | 0.17 | 0.31 | 0.42 | 69 | Technology Equities | ICLR vs XLK | |
| VanEck Semiconductor ETF | 0.18 | 0.32 | 0.41 | 94 | Semiconductors, Technology Equities | ICLR vs SMH | |
| Invesco QQQ ETF | 0.23 | 0.33 | 0.44 | 62 | Nasdaq-100 | ICLR vs QQQ | |
| State Street SPDR S&P 500 ETF | 0.30 | 0.40 | 0.49 | 66 | S&P 500 | ICLR vs SPY | |
| SPDR S&P Biotech ETF | 0.39 | 0.46 | 0.46 | 74 | Health & Biotech Equities | ICLR vs XBI |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ICLR, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ICLR and solid risk/return profiles. The least correlated is McKesson Corporation (MCK) (Healthcare) with a 1Y correlation of -0.03, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| McKesson Corporation | -0.03 | 0.02 | 0.09 | 50 | Healthcare | |
| NVIDIA Corporation | 0.04 | 0.20 | 0.32 | 76 | Technology | |
| Exxon Mobil Corporation | 0.08 | 0.07 | 0.11 | 86 | Energy | |
| Vertiv Holdings Co. | 0.09 | 0.22 | 0.32 | 93 | Industrials | |
| Applied Materials, Inc. | 0.20 | 0.30 | 0.38 | 95 | Technology |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements ICLR
Add ICLR to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with ICLR