Looking to balance out your exposure to LNVGY? The ETFs below have the lowest correlation with LNVGY — they tend to move on their own, which can help reduce risk when LNVGY drops. The stock ideas table highlights individual companies that behave independently from LNVGY.
Best Diversifiers for LNVGY
0 ETFs have low correlation with LNVGY (below 0.3), 0 of which are negatively correlated. The least correlated is Spear Alpha ETF (SPRX) (Technology Equities) with a 1Y correlation of 0.38, up from 0.27 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Spear Alpha ETF | 0.38 | 0.27 | — | 67 | Technology Equities | LNVGY vs SPRX | |
| Vanguard S&P 500 ETF | 0.41 | 0.30 | 0.28 | 63 | S&P 500 | LNVGY vs VOO | |
| State Street SPDR S&P 500 ETF | 0.42 | 0.30 | 0.28 | 63 | S&P 500 | LNVGY vs SPY | |
| Vanguard Information Technology ETF | 0.44 | 0.30 | 0.29 | 60 | Technology Equities | LNVGY vs VGT | |
| ROBO Global Robotics & Automation Index ETF | 0.46 | 0.40 | 0.36 | 60 | Robotics, Technology Equities | LNVGY vs ROBO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from LNVGY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to LNVGY and solid risk/return profiles. The least correlated is Iron Mountain Incorporated (IRM) (Real Estate) with a 1Y correlation of 0.12, roughly unchanged from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Iron Mountain Incorporated | 0.12 | 0.19 | 0.18 | 70 | Real Estate | |
| Akamai Technologies, Inc. | 0.14 | 0.21 | 0.17 | 71 | Technology | |
| Lumentum Holdings Inc. | 0.15 | 0.19 | 0.19 | 99 | Technology | |
| Bloom Energy Corporation | 0.18 | 0.19 | 0.21 | 99 | Industrials | |
| Cisco Systems, Inc. | 0.19 | 0.20 | 0.19 | 93 | Technology |
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