Looking to balance out your exposure to ITOCY? The ETFs below have the lowest correlation with ITOCY — they tend to move on their own, which can help reduce risk when ITOCY drops. The stock ideas table highlights individual companies that behave independently from ITOCY.
Best Diversifiers for ITOCY
6 ETFs have low correlation with ITOCY (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco Ultra Short Duration ETF (GSY) (Ultrashort Bond) with a 1Y correlation of 0.12, roughly unchanged from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco Ultra Short Duration ETF | 0.12 | 0.14 | 0.12 | 100 | Ultrashort Bond | ITOCY vs GSY | |
| Schwab U.S. Dividend Equity ETF | 0.24 | 0.31 | 0.36 | 80 | Dividend | ITOCY vs SCHD | |
| Direxion Daily Semiconductor Bull 3X ETF | 0.27 | 0.33 | 0.35 | 97 | Leveraged Equities, Semiconductors | ITOCY vs SOXL | |
| State Street Technology Select Sector SPDR ETF | 0.28 | 0.34 | 0.36 | 83 | Technology Equities | ITOCY vs XLK | |
| STMicroelectronics NV ADRhedged | 0.28 | 0.25 | 0.25 | 89 | Technology Equities | ITOCY vs STHH |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ITOCY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ITOCY and solid risk/return profiles. The least correlated is Chevron Corporation (CVX) (Energy) with a 1Y correlation of -0.07, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chevron Corporation | -0.07 | 0.08 | 0.17 | 83 | Energy | |
| Diamondback Energy, Inc. | -0.05 | 0.08 | 0.16 | 82 | Energy | |
| Cboe Global Markets, Inc. | 0.02 | -0.02 | 0.04 | 68 | Financial Services | |
| Monster Beverage Corporation | 0.02 | 0.08 | 0.16 | 79 | Consumer Defensive | |
| Nutrien Ltd. | 0.04 | 0.19 | 0.21 | 58 | Basic Materials |
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Build a portfolio that complements ITOCY
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