Looking to balance out your exposure to IDA? The ETFs below have historically moved differently from IDA, 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 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 0.04, down from 0.23 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.04 | 0.13 | 0.23 | 53 | S&P 500 | IDA vs SPY | |
| iShares Russell 1000 ETF | 0.05 | 0.14 | 0.23 | 52 | Large Cap Blend Equities | IDA vs IWB |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for IDA, 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 Ritchie Bros. Auctioneers Incorporated (RBA) (Industrials) with a 1Y correlation of 0.13, roughly unchanged from 0.22 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Ritchie Bros. Auctioneers Incorporated | 0.13 | 0.19 | 0.22 | 53 | Industrials | |
| Enel Chile S.A. | 0.14 | 0.21 | 0.17 | 86 | Utilities | |
| Brookfield Infrastructure Corporation | 0.18 | — | — | 52 | Utilities | |
| Iberdrola SA | 0.26 | 0.37 | 0.38 | 94 | Utilities | |
| IDEX Corporation | 0.27 | 0.27 | 0.32 | 76 | Industrials |
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