Looking to balance out your exposure to INO? The ETFs below have the lowest correlation with INO — they tend to move on their own, which can help reduce risk when INO drops. The stock ideas table highlights individual companies that behave independently from INO.
Best Diversifiers for INO
1 ETFs have low correlation with INO (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 0.24, down from 0.35 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.24 | 0.29 | 0.35 | 70 | S&P 500 | INO vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from INO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to INO and solid risk/return profiles. The least correlated is MDU Resources Group, Inc. (MDU) (Basic Materials) with a 1Y correlation of -0.01, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| MDU Resources Group, Inc. | -0.01 | 0.15 | 0.17 | 73 | Basic Materials | |
| Energy Transfer LP | 0.04 | 0.15 | 0.17 | 69 | Energy | |
| NIO Inc. | 0.10 | 0.21 | 0.32 | 67 | Consumer Cyclical | |
| Ford Motor Company | 0.13 | 0.19 | 0.25 | 82 | Consumer Cyclical | |
| Cleveland-Cliffs Inc. | 0.16 | 0.22 | 0.23 | 72 | Basic Materials |
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