Looking to balance out your exposure to KNX? The ETFs below have the lowest correlation with KNX — they tend to move on their own, which can help reduce risk when KNX drops. The stock ideas table highlights individual companies that behave independently from KNX.
Best Diversifiers for KNX
0 ETFs have low correlation with KNX (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 0.37, down from 0.47 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.37 | 0.40 | 0.47 | 74 | S&P 500 | KNX vs VOO | |
| State Street SPDR S&P 500 ETF | 0.37 | 0.41 | 0.48 | 74 | S&P 500 | KNX vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from KNX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to KNX and solid risk/return profiles. The least correlated is International Business Machines Corporation (IBM) (Technology) with a 1Y correlation of 0.13, down from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| International Business Machines Corporation | 0.13 | 0.20 | 0.25 | 54 | Technology | |
| Canadian Pacific Railway Limited | 0.44 | 0.44 | 0.43 | 53 | Industrials | |
| RXO Inc. | 0.59 | 0.58 | — | 71 | Industrials | |
| Old Dominion Freight Line, Inc. | 0.74 | 0.63 | 0.66 | 75 | Industrials | |
| Werner Enterprises, Inc. | 0.77 | 0.77 | 0.79 | 79 | Industrials |
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