Looking to balance out your exposure to LCID? The ETFs below have historically moved differently from LCID, 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 LCID
5 ETFs have low correlation with LCID (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) (Inflation-Protected Bonds) with a 1Y correlation of 0.18, roughly unchanged from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Short-Term Inflation-Protected Securities... | 0.18 | 0.10 | 0.10 | 92 | Inflation-Protected Bonds | LCID vs VTIP | |
| iShares National AMT-Free Muni Bond ETF | 0.19 | 0.15 | 0.13 | 66 | Municipal Bonds | LCID vs MUB | |
| Convergence Long/Short Equity ETF | 0.25 | 0.16 | — | 96 | Long-Short, Actively Managed | LCID vs CLSE | |
| Direxion Daily Semiconductor Bull 3X ETF | 0.29 | 0.32 | 0.40 | 90 | Leveraged Equities, Semiconductors | LCID vs SOXL | |
| Invesco Semiconductors ETF | 0.29 | 0.34 | 0.41 | 90 | Semiconductors, Technology Equities | LCID vs PSI |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for LCID, 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 Occidental Petroleum Corporation (OXY) (Energy) with a 1Y correlation of -0.03, down from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Occidental Petroleum Corporation | -0.03 | 0.10 | 0.13 | 70 | Energy | |
| Chevron Corporation | -0.02 | 0.08 | 0.10 | 80 | Energy | |
| VeriSign, Inc. | 0.00 | 0.09 | 0.20 | 53 | Technology | |
| AbbVie Inc. | 0.05 | 0.07 | 0.02 | 81 | Healthcare | |
| Hilton Worldwide Holdings Inc. | 0.08 | 0.19 | 0.27 | 72 | Consumer Cyclical |
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