Looking to balance out your exposure to LECO? The ETFs below have historically moved differently from LECO, 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 LECO
1 ETFs have low correlation with LECO (below 0.3), 1 of which are negatively correlated. The least correlated is State Street Energy Select Sector SPDR ETF (XLE) (Energy Equities) with a 1Y correlation of -0.05, down from 0.28 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Energy Select Sector SPDR ETF | -0.05 | 0.18 | 0.28 | 61 | Energy Equities | LECO vs XLE | |
| iShares U.S. Technology ETF | 0.31 | 0.38 | 0.45 | 56 | Technology Equities | LECO vs IYW | |
| Fidelity MSCI Information Technology Index ETF | 0.31 | 0.40 | 0.47 | 58 | Technology Equities | LECO vs FTEC | |
| Invesco QQQ ETF | 0.34 | 0.42 | 0.48 | 54 | Nasdaq-100 | LECO vs QQQ | |
| Vanguard S&P 500 ETF | 0.46 | 0.53 | 0.59 | 72 | S&P 500 | LECO vs VOO |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for LECO, 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 EOG Resources, Inc. (EOG) (Energy) with a 1Y correlation of -0.09, down from 0.20 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| EOG Resources, Inc. | -0.09 | 0.11 | 0.20 | 61 | Energy | |
| ONEOK, Inc. | 0.01 | 0.20 | 0.34 | 68 | Energy | |
| Paymentus Holdings, Inc. | 0.02 | 0.21 | 0.28 | 56 | Technology | |
| AbbVie Inc. | 0.06 | 0.15 | 0.18 | 73 | Healthcare | |
| Halliburton Company | 0.09 | 0.27 | 0.33 | 79 | Energy |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements LECO
Add LECO to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with LECO