Looking to balance out your exposure to LYTS? The ETFs below have the lowest correlation with LYTS — they tend to move on their own, which can help reduce risk when LYTS drops. The stock ideas table highlights individual companies that behave independently from LYTS.
Best Diversifiers for LYTS
2 ETFs have low correlation with LYTS (below 0.3), 0 of which are negatively correlated. The least correlated is iShares MSCI Global Silver and Metals Miners ETF (SLVP) (Silver) with a 1Y correlation of 0.11, roughly unchanged from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares MSCI Global Silver and Metals Miners ETF | 0.11 | 0.15 | 0.13 | 55 | Silver, Precious Metals | LYTS vs SLVP | |
| Defiance Daily Target 2X Long AVGO ETF | 0.20 | 0.30 | 0.30 | 50 | Leveraged Equities | LYTS vs AVGX | |
| Invesco QQQ ETF | 0.39 | 0.39 | 0.31 | 73 | Nasdaq-100 | LYTS vs QQQ | |
| State Street SPDR S&P 500 ETF | 0.50 | 0.48 | 0.39 | 70 | S&P 500 | LYTS vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from LYTS, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to LYTS and solid risk/return profiles. The least correlated is Gold Fields Limited (GFI) (Basic Materials) with a 1Y correlation of 0.02, roughly unchanged from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Gold Fields Limited | 0.02 | 0.06 | 0.08 | 69 | Basic Materials | |
| Elbit Systems Ltd | 0.08 | 0.17 | 0.10 | 88 | Industrials | |
| Palo Alto Networks, Inc. | 0.09 | 0.18 | 0.16 | 67 | Technology | |
| uniQure N.V. | 0.09 | 0.19 | 0.16 | 71 | Healthcare | |
| Lumentum Holdings Inc. | 0.10 | 0.26 | 0.23 | 99 | Technology |
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