Looking to balance out your exposure to IMPUY? The ETFs below have the lowest correlation with IMPUY — they tend to move on their own, which can help reduce risk when IMPUY drops. The stock ideas table highlights individual companies that behave independently from IMPUY.
Best Diversifiers for IMPUY
0 ETFs have low correlation with IMPUY (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 ETF (VOO) (S&P 500) with a 1Y correlation of 0.39, roughly unchanged from 0.31 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.39 | 0.29 | 0.31 | 70 | S&P 500 | IMPUY vs VOO | |
| SPDR S&P Metals & Mining ETF | 0.56 | 0.48 | 0.46 | 77 | Materials | IMPUY vs XME |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from IMPUY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to IMPUY and solid risk/return profiles. The least correlated is Innovative Industrial Properties, Inc. (IIPR) (Real Estate) with a 1Y correlation of 0.11, roughly unchanged from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Innovative Industrial Properties, Inc. | 0.11 | 0.16 | 0.18 | 56 | Real Estate | |
| Bunge Limited | 0.12 | 0.13 | 0.17 | 91 | Consumer Defensive | |
| Symbotic Inc | 0.18 | 0.19 | 0.15 | 64 | Industrials | |
| Red Cat Holdings, Inc. | 0.18 | 0.10 | 0.08 | 69 | Technology | |
| Talen Energy Corporation | 0.19 | — | — | 67 | Utilities |
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