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
143 ETFs have low correlation with LITE (below 0.3), 22 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.16, down from -0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.16 | -0.07 | -0.05 | 100 | Ultrashort Bond | LITE vs SGOV | |
| Vanguard Ultra-Short Treasury ETF | -0.12 | — | — | 100 | Ultrashort Bond, Government Bonds | LITE vs VGUS | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.11 | -0.07 | -0.02 | 100 | Government Bonds, Ultrashort Bond | LITE vs BIL | |
| Franklin U.S. Low Volatility High Dividend Index E... | -0.08 | 0.07 | 0.19 | 60 | Dividend | LITE vs LVHD | |
| iShares 0-5 Year TIPS Bond ETF | -0.06 | -0.00 | 0.04 | 91 | Inflation-Protected Bonds | LITE vs STIP |
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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 Waste Management, Inc. (WM) (Industrials) with a 1Y correlation of -0.29, down from 0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Waste Management, Inc. | -0.29 | -0.09 | 0.02 | 56 | Industrials | |
| Berkshire Hathaway Inc. | -0.26 | 0.01 | 0.14 | 53 | Financial Services | |
| Berkshire Hathaway Inc. | -0.21 | 0.03 | 0.16 | 53 | Financial Services | |
| Chubb Limited | -0.21 | -0.11 | 0.03 | 82 | Financial Services | |
| The Travelers Companies, Inc. | -0.19 | -0.04 | 0.06 | 90 | Financial Services |
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