Looking to balance out your exposure to LPTH? The ETFs below have the lowest correlation with LPTH — they tend to move on their own, which can help reduce risk when LPTH drops. The stock ideas table highlights individual companies that behave independently from LPTH.
Best Diversifiers for LPTH
1 ETFs have low correlation with LPTH (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 0.28, roughly unchanged from 0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.28 | 0.22 | 0.28 | 74 | S&P 500 | LPTH vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from LPTH, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to LPTH and solid risk/return profiles. The least correlated is AxoGen, Inc. (AXGN) (Healthcare) with a 1Y correlation of -0.03, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AxoGen, Inc. | -0.03 | 0.03 | 0.11 | 98 | Healthcare | |
| Pan American Silver Corp. | 0.11 | 0.06 | 0.12 | 83 | Basic Materials | |
| National Energy Services Reunited Corp. | 0.12 | 0.10 | 0.18 | 99 | Energy | |
| CECO Environmental Corp. | 0.13 | 0.13 | 0.16 | 93 | Industrials | |
| Micron Technology, Inc. | 0.16 | 0.16 | 0.21 | 99 | Technology |
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