Looking to balance out your exposure to MOMO? The ETFs below have historically moved differently from MOMO, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for MOMO
2 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.
How candidates are selected| 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 | 51 | Momentum, S&P 500 | MOMO vs SPMO | |
| JPMorgan U.S. Momentum Factor ETF | 0.29 | 0.20 | 0.30 | 80 | Momentum, Large Cap Blend Equities | MOMO vs JMOM | |
| State Street SPDR S&P 500 ETF | 0.34 | 0.24 | 0.31 | 78 | S&P 500 | MOMO vs SPY |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for MOMO, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is NMI Holdings, Inc. (NMIH) (Financial Services) with a 1Y correlation of 0.01, down from 0.19 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NMI Holdings, Inc. | 0.01 | 0.12 | 0.19 | 67 | Financial Services | |
| Old Republic International Corporation | 0.01 | 0.07 | 0.16 | 78 | Financial Services | |
| Perdoceo Education Corporation | 0.02 | 0.05 | 0.09 | 54 | Consumer Defensive | |
| Essent Group Ltd. | 0.02 | 0.12 | 0.20 | 69 | Financial Services | |
| MGIC Investment Corporation | 0.02 | 0.14 | 0.21 | 67 | Financial Services |
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