Looking to balance out your exposure to INCY? The ETFs below have the lowest correlation with INCY — they tend to move on their own, which can help reduce risk when INCY drops. The stock ideas table highlights individual companies that behave independently from INCY.
Best Diversifiers for INCY
6 ETFs have low correlation with INCY (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco S&P 500 Momentum ETF (SPMO) (Momentum) with a 1Y correlation of 0.17, roughly unchanged from 0.26 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco S&P 500 Momentum ETF | 0.17 | 0.19 | 0.26 | 75 | Momentum, S&P 500 | INCY vs SPMO | |
| Global X Copper Miners ETF | 0.18 | 0.15 | 0.17 | 75 | Materials | INCY vs COPX | |
| VanEck Semiconductor ETF | 0.21 | 0.13 | 0.21 | 96 | Semiconductors, Technology Equities | INCY vs SMH | |
| Vanguard S&P 500 ETF | 0.29 | 0.28 | 0.32 | 70 | S&P 500 | INCY vs VOO | |
| State Street SPDR Portfolio S&P 500 ETF | 0.30 | 0.28 | 0.32 | 70 | S&P 500 | INCY vs SPYM |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from INCY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to INCY and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.07, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.07 | 0.08 | 0.13 | 69 | Consumer Defensive | |
| Verizon Communications Inc. | 0.03 | 0.13 | 0.16 | 59 | Communication Services | |
| Oracle Corporation | 0.04 | 0.11 | 0.14 | 58 | Technology | |
| Arista Networks, Inc. | 0.04 | 0.05 | 0.14 | 79 | Technology | |
| NVIDIA Corporation | 0.04 | 0.02 | 0.13 | 78 | Technology |
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