Looking to balance out your exposure to LSPD? The ETFs below have the lowest correlation with LSPD — they tend to move on their own, which can help reduce risk when LSPD drops. The stock ideas table highlights individual companies that behave independently from LSPD.
Best Diversifiers for LSPD
0 ETFs have low correlation with LSPD (below 0.3), 0 of which are negatively correlated. The least correlated is First Trust NASDAQ-100 Technology Sector Index Fund (QTEC) (Nasdaq-100) with a 1Y correlation of 0.44, down from 0.61 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| First Trust NASDAQ-100 Technology Sector Index Fun... | 0.44 | 0.49 | 0.61 | 56 | Nasdaq-100, Technology Equities | LSPD vs QTEC | |
| Vanguard S&P 500 ETF | 0.44 | 0.50 | 0.59 | 66 | S&P 500 | LSPD vs VOO | |
| State Street SPDR S&P 500 ETF | 0.44 | 0.50 | 0.59 | 65 | S&P 500 | LSPD vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from LSPD, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to LSPD and solid risk/return profiles. The least correlated is Canadian National Railway Company (CNI) (Industrials) with a 1Y correlation of 0.16, down from 0.35 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Canadian National Railway Company | 0.16 | 0.28 | 0.35 | 78 | Industrials | |
| Ducommun Incorporated | 0.16 | 0.21 | 0.29 | 94 | Industrials | |
| Oscar Health, Inc. | 0.28 | 0.25 | 0.38 | 77 | Healthcare | |
| Clover Health Investments, Corp. | 0.29 | 0.27 | 0.44 | 65 | Healthcare | |
| Opendoor Technologies Inc. | 0.29 | 0.40 | 0.50 | 86 | Real Estate |
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