Looking to balance out your exposure to IDA? The ETFs below have the lowest correlation with IDA — they tend to move on their own, which can help reduce risk when IDA drops. The stock ideas table highlights individual companies that behave independently from IDA.
Best Diversifiers for IDA
2 ETFs have low correlation with IDA (below 0.3), 0 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 0.05, down from 0.23 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.05 | 0.13 | 0.23 | 63 | S&P 500 | IDA vs SPY | |
| iShares Russell 1000 ETF | 0.07 | 0.14 | 0.23 | 61 | Large Cap Blend Equities | IDA vs IWB |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from IDA, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to IDA and solid risk/return profiles. The least correlated is Ritchie Bros. Auctioneers Incorporated (RBA) (Industrials) with a 1Y correlation of 0.15, roughly unchanged from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Ritchie Bros. Auctioneers Incorporated | 0.15 | 0.19 | 0.22 | 51 | Industrials | |
| Enel Chile S.A. | 0.15 | 0.21 | 0.18 | 76 | Utilities | |
| IDEX Corporation | 0.26 | 0.26 | 0.32 | 69 | Industrials | |
| Iberdrola SA | 0.30 | 0.38 | 0.38 | 89 | Utilities | |
| Clearway Energy, Inc. | 0.40 | 0.41 | 0.42 | 56 | Utilities |
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