Looking to balance out your exposure to LEO? The ETFs below have the lowest correlation with LEO — they tend to move on their own, which can help reduce risk when LEO drops. The stock ideas table highlights individual companies that behave independently from LEO.
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 Vectors High-Yield Municipal Index ETF (HYD) (Municipal Bonds) with a 1Y correlation of 0.42, roughly unchanged from 0.45 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| VanEck Vectors High-Yield Municipal Index ETF | 0.42 | 0.47 | 0.45 | 61 | Municipal Bonds | LEO vs HYD | |
| SPDR Nuveen Bloomberg Barclays High Yield Municipa... | 0.42 | 0.45 | 0.42 | 55 | Municipal Bonds | LEO vs HYMB |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from LEO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to LEO and solid risk/return profiles. 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.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Bank of New York Mellon Corporation | 0.04 | 0.16 | 0.15 | 95 | Financial Services | |
| The Southern Company | 0.08 | 0.18 | 0.15 | 52 | Utilities | |
| U.S. Bancorp | 0.15 | 0.21 | 0.17 | 76 | Financial Services |
Build a portfolio that complements LEO
Add LEO to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with LEO