Looking to balance out your exposure to LECO? The ETFs below have the lowest correlation with LECO — they tend to move on their own, which can help reduce risk when LECO drops. The stock ideas table highlights individual companies that behave independently from LECO.
Best Diversifiers for LECO
0 ETFs have low correlation with LECO (below 0.3), 0 of which are negatively correlated. The least correlated is iShares U.S. Technology ETF (IYW) (Technology Equities) with a 1Y correlation of 0.30, down from 0.46 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares U.S. Technology ETF | 0.30 | 0.39 | 0.46 | 62 | Technology Equities | LECO vs IYW | |
| Fidelity MSCI Information Technology Index ETF | 0.31 | 0.41 | 0.48 | 61 | Technology Equities | LECO vs FTEC | |
| Invesco QQQ ETF | 0.34 | 0.42 | 0.49 | 64 | Nasdaq-100 | LECO vs QQQ | |
| Vanguard S&P 500 ETF | 0.46 | 0.54 | 0.60 | 63 | S&P 500 | LECO vs VOO | |
| State Street SPDR S&P 500 ETF | 0.46 | 0.54 | 0.60 | 63 | S&P 500 | LECO vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from LECO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to LECO and solid risk/return profiles. The least correlated is EOG Resources, Inc. (EOG) (Energy) with a 1Y correlation of -0.00, down from 0.23 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| EOG Resources, Inc. | -0.00 | 0.15 | 0.23 | 59 | Energy | |
| AbbVie Inc. | 0.10 | 0.14 | 0.18 | 78 | Healthcare | |
| The Hershey Company | 0.11 | 0.10 | 0.16 | 51 | Consumer Defensive | |
| Lockheed Martin Corporation | 0.14 | 0.14 | 0.21 | 56 | Industrials | |
| Halliburton Company | 0.14 | 0.29 | 0.34 | 89 | Energy |
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