Looking to balance out your exposure to LBRT? The ETFs below have historically moved differently from LBRT, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for LBRT
4 ETFs have low correlation with LBRT (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 0.27, roughly unchanged from 0.33 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.27 | 0.28 | 0.33 | 72 | S&P 500 | LBRT vs SPY | |
| Wahed FTSE USA Shariah ETF | 0.28 | 0.29 | 0.33 | 82 | Large Cap Growth Equities | LBRT vs HLAL | |
| SP Funds S&P 500 Sharia Industry Exclusions ETF | 0.28 | 0.25 | 0.28 | 66 | S&P 500 | LBRT vs SPUS | |
| Invesco QQQ ETF | 0.28 | 0.23 | 0.24 | 55 | Nasdaq-100 | LBRT vs QQQ | |
| VanEck Semiconductor ETF | 0.33 | 0.24 | 0.25 | 87 | Semiconductors, Technology Equities | LBRT vs SMH |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for LBRT, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is The TJX Companies, Inc. (TJX) (Consumer Cyclical) with a 1Y correlation of -0.17, down from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The TJX Companies, Inc. | -0.17 | 0.01 | 0.13 | 77 | Consumer Cyclical | |
| Eli Lilly and Company | -0.13 | -0.03 | 0.01 | 77 | Healthcare | |
| Cboe Global Markets, Inc. | -0.02 | -0.08 | 0.03 | 56 | Financial Services | |
| Agnico Eagle Mines Limited | -0.01 | 0.07 | 0.11 | 52 | Basic Materials | |
| Merck & Co., Inc. | -0.01 | 0.00 | 0.05 | 94 | Healthcare |
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