Looking to balance out your exposure to IMBBY? The ETFs below have the lowest correlation with IMBBY — they tend to move on their own, which can help reduce risk when IMBBY drops. The stock ideas table highlights individual companies that behave independently from IMBBY.
Best Diversifiers for IMBBY
3 ETFs have low correlation with IMBBY (below 0.3), 1 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of -0.02, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | -0.02 | 0.07 | 0.16 | 64 | Nasdaq-100 | IMBBY vs QQQ | |
| State Street SPDR S&P 500 ETF | 0.05 | 0.16 | 0.25 | 63 | S&P 500 | IMBBY vs SPY | |
| Vanguard S&P 500 ETF | 0.05 | 0.17 | 0.25 | 63 | S&P 500 | IMBBY vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from IMBBY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to IMBBY and solid risk/return profiles. The least correlated is Tesla, Inc. (TSLA) (Consumer Cyclical) with a 1Y correlation of -0.02, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Tesla, Inc. | -0.02 | 0.03 | 0.09 | 53 | Consumer Cyclical | |
| Broadcom Inc. | -0.01 | 0.06 | 0.12 | 71 | Technology | |
| Valero Energy Corporation | 0.00 | 0.03 | 0.11 | 93 | Energy | |
| Humana Inc. | 0.03 | 0.08 | 0.14 | 73 | Healthcare | |
| Carnival Corporation & Plc | 0.05 | 0.09 | 0.16 | 52 | Consumer Cyclical |
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