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
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 -0.01, down from 0.30 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Energy Select Sector SPDR ETF | -0.01 | 0.20 | 0.30 | 59 | Energy Equities | LECO vs XLE | |
| Fidelity MSCI Information Technology Index ETF | 0.32 | 0.41 | 0.48 | 51 | Technology Equities | LECO vs FTEC | |
| iShares U.S. Technology ETF | 0.32 | 0.40 | 0.46 | 54 | Technology Equities | LECO vs IYW | |
| Invesco QQQ ETF | 0.37 | 0.43 | 0.49 | 53 | Nasdaq-100 | LECO vs QQQ | |
| State Street SPDR S&P 500 ETF | 0.46 | 0.53 | 0.60 | 65 | S&P 500 | LECO vs SPY |
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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 Cheniere Energy, Inc. (LNG) (Energy) with a 1Y correlation of -0.10, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cheniere Energy, Inc. | -0.10 | 0.09 | 0.19 | 57 | Energy | |
| EOG Resources, Inc. | -0.04 | 0.13 | 0.22 | 66 | Energy | |
| ONEOK, Inc. | 0.03 | 0.21 | 0.35 | 68 | Energy | |
| Walmart Inc. | 0.05 | 0.09 | 0.19 | 69 | Consumer Defensive | |
| AbbVie Inc. | 0.08 | 0.15 | 0.18 | 81 | Healthcare |
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Build a portfolio that complements LECO
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