Looking to balance out your exposure to LITE? The ETFs below have the lowest correlation with LITE — they tend to move on their own, which can help reduce risk when LITE drops. The stock ideas table highlights individual companies that behave independently from LITE.
Best Diversifiers for LITE
131 ETFs have low correlation with LITE (below 0.3), 9 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.13, roughly unchanged from -0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.13 | -0.06 | -0.04 | 100 | Ultrashort Bond | LITE vs SGOV | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.09 | -0.05 | -0.01 | 100 | Government Bonds, Ultrashort Bond | LITE vs BIL | |
| Vanguard Short-Term Inflation-Protected Securities... | -0.06 | -0.00 | 0.04 | 83 | Inflation-Protected Bonds | LITE vs VTIP | |
| iShares 0-5 Year TIPS Bond ETF | -0.06 | 0.01 | 0.04 | 85 | Inflation-Protected Bonds | LITE vs STIP | |
| Vanguard Short-Term Treasury ETF | -0.05 | -0.03 | -0.01 | 77 | Government Bonds, Short-Term Bond | LITE vs VGSH |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from LITE, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to LITE and solid risk/return profiles. The least correlated is Cboe Global Markets, Inc. (CBOE) (Financial Services) with a 1Y correlation of -0.20, down from -0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cboe Global Markets, Inc. | -0.20 | -0.21 | -0.06 | 55 | Financial Services | |
| The Travelers Companies, Inc. | -0.14 | -0.01 | 0.07 | 74 | Financial Services | |
| Walmart Inc. | -0.13 | 0.03 | 0.08 | 69 | Consumer Defensive | |
| Altria Group, Inc. | -0.12 | -0.07 | 0.01 | 72 | Consumer Defensive | |
| The Southern Company | -0.12 | -0.12 | -0.02 | 55 | Utilities |
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