Looking to balance out your exposure to INMD? The ETFs below have the lowest correlation with INMD — they tend to move on their own, which can help reduce risk when INMD drops. The stock ideas table highlights individual companies that behave independently from INMD.
Best Diversifiers for INMD
1 ETFs have low correlation with INMD (below 0.3), 0 of which are negatively correlated. The least correlated is VanEck Semiconductor ETF (SMH) (Semiconductors) with a 1Y correlation of 0.28, down from 0.46 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| VanEck Semiconductor ETF | 0.28 | 0.32 | 0.46 | 96 | Semiconductors, Technology Equities | INMD vs SMH | |
| Invesco QQQ ETF | 0.32 | 0.36 | 0.50 | 73 | Nasdaq-100 | INMD vs QQQ | |
| State Street SPDR S&P 500 ETF | 0.39 | 0.43 | 0.52 | 70 | S&P 500 | INMD vs SPY | |
| Vanguard S&P 500 ETF | 0.39 | 0.43 | 0.52 | 70 | S&P 500 | INMD vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from INMD, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to INMD and solid risk/return profiles. The least correlated is Arista Networks, Inc. (ANET) (Technology) with a 1Y correlation of 0.11, down from 0.34 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Arista Networks, Inc. | 0.11 | 0.21 | 0.34 | 79 | Technology | |
| NVIDIA Corporation | 0.12 | 0.21 | 0.40 | 78 | Technology | |
| Tesla, Inc. | 0.17 | 0.24 | 0.36 | 55 | Consumer Cyclical | |
| Eli Lilly and Company | 0.18 | 0.15 | 0.15 | 72 | Healthcare | |
| Amazon.com, Inc | 0.18 | 0.26 | 0.38 | 60 | Consumer Cyclical |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements INMD
Add INMD to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with INMD