Looking to balance out your exposure to KARO? The ETFs below have the lowest correlation with KARO — they tend to move on their own, which can help reduce risk when KARO drops. The stock ideas table highlights individual companies that behave independently from KARO.
Best Diversifiers for KARO
0 ETFs have low correlation with KARO (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.35, up from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.35 | 0.29 | 0.24 | 74 | S&P 500 | KARO vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from KARO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to KARO and solid risk/return profiles. The least correlated is UnitedHealth Group Incorporated (UNH) (Healthcare) with a 1Y correlation of 0.04, roughly unchanged from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| UnitedHealth Group Incorporated | 0.04 | 0.02 | 0.06 | 66 | Healthcare | |
| Advanced Micro Devices, Inc. | 0.06 | 0.13 | 0.12 | 97 | Technology | |
| Skeena Resources Ltd | 0.06 | 0.10 | 0.10 | 82 | Basic Materials | |
| Alliance Entertainment Holding Corporation Class A... | 0.13 | 0.11 | 0.07 | 66 | Communication Services | |
| Kenon Holdings Ltd. | 0.13 | 0.09 | 0.07 | 94 | Utilities |
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