Looking to balance out your exposure to IDYA? The ETFs below have historically moved differently from IDYA, 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 IDYA
0 ETFs have low correlation with IDYA (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 0.30, roughly unchanged from 0.35 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 | 0.30 | 0.37 | 0.35 | 67 | S&P 500 | IDYA vs SPY | |
| SPDR S&P Biotech ETF | 0.66 | 0.63 | 0.63 | 94 | Health & Biotech Equities | IDYA vs XBI |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for IDYA, 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 Iovance Biotherapeutics, Inc. (IOVA) (Healthcare) with a 1Y correlation of 0.40, roughly unchanged from 0.45 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Iovance Biotherapeutics, Inc. | 0.40 | 0.44 | 0.45 | 70 | Healthcare |
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