Looking to balance out your exposure to IRDM? The ETFs below have the lowest correlation with IRDM — they tend to move on their own, which can help reduce risk when IRDM drops. The stock ideas table highlights individual companies that behave independently from IRDM.
Best Diversifiers for IRDM
5 ETFs have low correlation with IRDM (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco S&P 500 BuyWrite ETF (PBP) (Derivative Income) 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 |
|---|---|---|---|---|---|---|---|
| Invesco S&P 500 BuyWrite ETF | 0.24 | 0.24 | 0.35 | 78 | Derivative Income, S&P 500 | IRDM vs PBP | |
| JPMorgan Nasdaq Equity Premium Income ETF | 0.28 | 0.25 | 0.32 | 64 | Nasdaq-100, Derivative Income | IRDM vs JEPQ | |
| VanEck Semiconductor ETF | 0.29 | 0.23 | 0.33 | 94 | Semiconductors, Technology Equities | IRDM vs SMH | |
| Vanguard Information Technology ETF | 0.29 | 0.26 | 0.36 | 58 | Technology Equities | IRDM vs VGT | |
| Invesco QQQ ETF | 0.29 | 0.24 | 0.36 | 59 | Nasdaq-100 | IRDM vs QQQ |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from IRDM, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to IRDM and solid risk/return profiles. The least correlated is Walmart Inc. (WMT) (Consumer Defensive) with a 1Y correlation of 0.05, roughly unchanged from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Walmart Inc. | 0.05 | 0.07 | 0.12 | 70 | Consumer Defensive | |
| NVIDIA Corporation | 0.07 | 0.06 | 0.22 | 70 | Technology | |
| Sandisk Corporation | 0.08 | — | — | 100 | Technology | |
| NIO Inc. | 0.10 | 0.20 | 0.27 | 62 | Consumer Cyclical | |
| Clean Harbors, Inc. | 0.11 | 0.17 | 0.25 | 71 | Industrials |
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Build a portfolio that complements IRDM
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