Looking to balance out your exposure to IDXX? The ETFs below have the lowest correlation with IDXX — they tend to move on their own, which can help reduce risk when IDXX drops. The stock ideas table highlights individual companies that behave independently from IDXX.
Best Diversifiers for IDXX
0 ETFs have low correlation with IDXX (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard Information Technology ETF (VGT) (Technology Equities) with a 1Y correlation of 0.34, down from 0.53 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Information Technology ETF | 0.34 | 0.40 | 0.53 | 58 | Technology Equities | IDXX vs VGT | |
| Vanguard S&P 500 ETF | 0.50 | 0.52 | 0.60 | 59 | S&P 500 | IDXX vs VOO | |
| State Street SPDR S&P 500 ETF | 0.50 | 0.52 | 0.60 | 59 | S&P 500 | IDXX vs SPY | |
| State Street SPDR Dow Jones Industrial Average ETF... | 0.51 | 0.51 | 0.55 | 56 | Large Cap Blend Equities | IDXX vs DIA |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from IDXX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to IDXX and solid risk/return profiles. The least correlated is Chevron Corporation (CVX) (Energy) with a 1Y correlation of -0.12, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chevron Corporation | -0.12 | 0.05 | 0.11 | 70 | Energy | |
| ConocoPhillips Company | -0.11 | 0.02 | 0.07 | 65 | Energy | |
| Apache Corporation | -0.09 | 0.07 | 0.14 | 87 | Energy | |
| Altria Group, Inc. | -0.07 | 0.05 | 0.09 | 72 | Consumer Defensive | |
| The Coca-Cola Company | -0.03 | 0.11 | 0.19 | 74 | Consumer Defensive |
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