Looking to balance out your exposure to LEO? The ETFs below have historically moved differently from LEO, 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 LEO
0 ETFs have low correlation with LEO (below 0.3), 0 of which are negatively correlated. The least correlated is VanEck High Yield Muni ETF (HYD) (Municipal Bonds) with a 1Y correlation of 0.41, roughly unchanged from 0.46 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| VanEck High Yield Muni ETF | 0.41 | 0.46 | 0.46 | 59 | Municipal Bonds | LEO vs HYD | |
| State Street SPDR Nuveen ICE High Yield Municipal ... | 0.42 | 0.45 | 0.42 | 65 | Municipal Bonds | LEO vs HYMB |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for LEO, 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 Bank of New York Mellon Corporation (BNY) (Financial Services) with a 1Y correlation of 0.04, down from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Bank of New York Mellon Corporation | 0.04 | 0.12 | 0.15 | 95 | Financial Services | |
| Consolidated Edison, Inc. | 0.08 | 0.17 | 0.16 | 53 | Utilities | |
| U.S. Bancorp | 0.15 | 0.20 | 0.17 | 89 | Financial Services |
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