Looking to balance out your exposure to IDXX? The ETFs below have historically moved differently from IDXX, 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 IDXX
2 ETFs have low correlation with IDXX (below 0.3), 0 of which are negatively correlated. The least correlated is iShares Semiconductor ETF (SOXX) (Semiconductors) with a 1Y correlation of 0.17, down from 0.44 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Semiconductor ETF | 0.17 | 0.31 | 0.44 | 90 | Semiconductors, Technology Equities | IDXX vs SOXX | |
| Vanguard Information Technology ETF | 0.26 | 0.36 | 0.51 | 52 | Technology Equities | IDXX vs VGT | |
| Vanguard S&P 500 ETF | 0.43 | 0.50 | 0.59 | 68 | S&P 500 | IDXX vs VOO | |
| State Street SPDR S&P 500 ETF | 0.43 | 0.50 | 0.59 | 67 | S&P 500 | IDXX vs SPY | |
| State Street Health Care Select Sector SPDR ETF | 0.45 | 0.51 | 0.56 | 72 | Health & Biotech Equities | IDXX vs XLV |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for IDXX, 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 ConocoPhillips Company (COP) (Energy) with a 1Y correlation of -0.16, down from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ConocoPhillips Company | -0.16 | 0.00 | 0.07 | 72 | Energy | |
| Chevron Corporation | -0.15 | 0.04 | 0.10 | 80 | Energy | |
| Apache Corporation | -0.13 | 0.05 | 0.14 | 90 | Energy | |
| Cheniere Energy, Inc. | -0.13 | 0.02 | 0.09 | 57 | Energy | |
| Archer-Daniels-Midland Company | -0.04 | 0.09 | 0.13 | 90 | Consumer Defensive |
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