Looking to balance out your exposure to MOMO? The ETFs below have the lowest correlation with MOMO — they tend to move on their own, which can help reduce risk when MOMO drops. The stock ideas table highlights individual companies that behave independently from MOMO.
Best Diversifiers for MOMO
1 ETFs have low correlation with MOMO (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco S&P 500 Momentum ETF (SPMO) (Momentum) with a 1Y correlation of 0.27, roughly unchanged from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco S&P 500 Momentum ETF | 0.27 | 0.17 | 0.24 | 75 | Momentum, S&P 500 | MOMO vs SPMO | |
| State Street SPDR S&P 500 ETF | 0.31 | 0.24 | 0.31 | 70 | S&P 500 | MOMO vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MOMO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MOMO and solid risk/return profiles. The least correlated is Teekay Tankers Ltd. (TNK) (Energy) with a 1Y correlation of 0.08, roughly unchanged from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Teekay Tankers Ltd. | 0.08 | 0.09 | 0.15 | 82 | Energy | |
| D.R. Horton, Inc. | 0.08 | 0.18 | 0.22 | 58 | Consumer Cyclical | |
| Renasant Corporation | 0.09 | 0.15 | 0.19 | 56 | Financial Services | |
| PulteGroup, Inc. | 0.10 | 0.20 | 0.23 | 57 | Consumer Cyclical | |
| Tenaris S.A. | 0.10 | 0.20 | 0.24 | 94 | Energy |
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