Looking to balance out your exposure to OKTA? The ETFs below have the lowest correlation with OKTA — they tend to move on their own, which can help reduce risk when OKTA drops. The stock ideas table highlights individual companies that behave independently from OKTA.
Best Diversifiers for OKTA
5 ETFs have low correlation with OKTA (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) (Inflation-Protected Bonds) with a 1Y correlation of 0.03, roughly unchanged from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Short-Term Inflation-Protected Securities... | 0.03 | 0.07 | 0.11 | 93 | Inflation-Protected Bonds | OKTA vs VTIP | |
| Vanguard International High Dividend Yield ETF | 0.14 | 0.29 | 0.31 | 66 | Dividend, Foreign Large Cap Equities | OKTA vs VYMI | |
| Invesco International BuyBack Achievers™ ETF | 0.17 | 0.28 | 0.33 | 54 | Global Equities | OKTA vs IPKW | |
| Invesco S&P 500 Momentum ETF | 0.20 | 0.39 | 0.39 | 75 | Momentum, S&P 500 | OKTA vs SPMO | |
| Main International ETF | 0.29 | 0.40 | — | 52 | Foreign Large Cap Equities | OKTA vs INTL |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from OKTA, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to OKTA and solid risk/return profiles. The least correlated is Johnson & Johnson (JNJ) (Healthcare) with a 1Y correlation of -0.16, down from -0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Johnson & Johnson | -0.16 | -0.10 | -0.04 | 92 | Healthcare | |
| Walmart Inc. | -0.11 | 0.09 | 0.11 | 63 | Consumer Defensive | |
| Merck & Co., Inc. | -0.05 | -0.04 | -0.03 | 87 | Healthcare | |
| The Williams Companies, Inc. | -0.04 | 0.09 | 0.10 | 66 | Energy | |
| Energy Transfer LP | -0.03 | 0.13 | 0.15 | 69 | Energy |
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