Looking to balance out your exposure to LAKE? The ETFs below have the lowest correlation with LAKE — they tend to move on their own, which can help reduce risk when LAKE drops. The stock ideas table highlights individual companies that behave independently from LAKE.
Best Diversifiers for LAKE
3 ETFs have low correlation with LAKE (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, roughly unchanged from 0.28 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 | 0.28 | 59 | S&P 500 | LAKE vs VOO | |
| ARK Genomic Revolution Multi-Sector ETF | 0.29 | 0.28 | 0.27 | 52 | Health & Biotech Equities, Actively Managed | LAKE vs ARKG | |
| Schwab U.S. Dividend Equity ETF | 0.29 | 0.24 | 0.26 | 89 | Dividend | LAKE vs SCHD |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from LAKE, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to LAKE and solid risk/return profiles. The least correlated is Micron Technology, Inc. (MU) (Technology) with a 1Y correlation of -0.03, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Micron Technology, Inc. | -0.03 | 0.12 | 0.15 | 99 | Technology | |
| NVIDIA Corporation | 0.05 | 0.18 | 0.19 | 60 | Technology | |
| AbbVie Inc. | 0.12 | 0.08 | 0.10 | 81 | Healthcare | |
| Tesla, Inc. | 0.15 | 0.19 | 0.19 | 58 | Consumer Cyclical | |
| Amazon.com, Inc | 0.16 | 0.22 | 0.19 | 54 | Consumer Cyclical |
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