Looking to balance out your exposure to LYFT? The ETFs below have the lowest correlation with LYFT — they tend to move on their own, which can help reduce risk when LYFT drops. The stock ideas table highlights individual companies that behave independently from LYFT.
Best Diversifiers for LYFT
3 ETFs have low correlation with LYFT (below 0.3), 1 of which are negatively correlated. The least correlated is Vanguard Energy ETF (VDE) (Energy Equities) with a 1Y correlation of -0.04, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Energy ETF | -0.04 | 0.10 | 0.15 | 60 | Energy Equities | LYFT vs VDE | |
| State Street Health Care Select Sector SPDR ETF | 0.13 | 0.22 | 0.24 | 50 | Health & Biotech Equities | LYFT vs XLV | |
| Invesco QQQ ETF | 0.30 | 0.41 | 0.48 | 53 | Nasdaq-100 | LYFT vs QQQ | |
| Vanguard S&P 500 ETF | 0.33 | 0.45 | 0.49 | 66 | S&P 500 | LYFT vs VOO | |
| State Street SPDR S&P 500 ETF | 0.34 | 0.45 | 0.49 | 65 | S&P 500 | LYFT vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from LYFT, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to LYFT and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.26, down from 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.26 | -0.05 | 0.01 | 80 | Consumer Defensive | |
| McKesson Corporation | -0.12 | -0.11 | -0.05 | 62 | Healthcare | |
| Arch Capital Group Ltd. | -0.09 | 0.03 | 0.08 | 62 | Financial Services | |
| MPLX LP | -0.09 | 0.11 | 0.16 | 82 | Energy | |
| Cboe Global Markets, Inc. | -0.07 | -0.11 | 0.03 | 60 | Financial Services |
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