Looking to balance out your exposure to LKQ? The ETFs below have the lowest correlation with LKQ — they tend to move on their own, which can help reduce risk when LKQ drops. The stock ideas table highlights individual companies that behave independently from LKQ.
Best Diversifiers for LKQ
2 ETFs have low correlation with LKQ (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.29, down from 0.52 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.29 | 0.39 | 0.52 | 65 | S&P 500 | LKQ vs SPY | |
| Vanguard S&P 500 ETF | 0.30 | 0.39 | 0.52 | 66 | S&P 500 | LKQ vs VOO | |
| Goldman Sachs MarketBeta International Equity ETF | 0.40 | 0.44 | 0.51 | 51 | Foreign Large Cap Equities | LKQ vs GSID | |
| Schwab U.S. Dividend Equity ETF | 0.61 | 0.61 | 0.66 | 91 | Dividend | LKQ vs SCHD | |
| State Street SPDR Portfolio S&P 500 High Dividend ... | 0.61 | 0.60 | 0.63 | 65 | S&P 500, Dividend | LKQ vs SPYD |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from LKQ, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to LKQ and solid risk/return profiles. The least correlated is Waste Management, Inc. (WM) (Industrials) with a 1Y correlation of 0.11, down from 0.29 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Waste Management, Inc. | 0.11 | 0.21 | 0.29 | 56 | Industrials | |
| Tesla, Inc. | 0.13 | 0.18 | 0.26 | 59 | Consumer Cyclical | |
| Sumitomo Corp ADR | 0.14 | 0.23 | 0.25 | 85 | Industrials | |
| eBay Inc. | 0.15 | 0.32 | 0.38 | 78 | Consumer Cyclical | |
| Amazon.com, Inc | 0.25 | 0.19 | 0.30 | 56 | Consumer Cyclical |
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