Looking to balance out your exposure to OLP? The ETFs below have historically moved differently from OLP, 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 OLP
2 ETFs have low correlation with OLP (below 0.3), 0 of which are negatively correlated. The least correlated is NEOS S&P 500 High Income ETF (SPYI) (Derivative Income) with a 1Y correlation of 0.08, down from 0.29 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| NEOS S&P 500 High Income ETF | 0.08 | 0.29 | — | 72 | Derivative Income, S&P 500 | OLP vs SPYI | |
| Schwab U.S. Large-Cap ETF | 0.09 | 0.32 | 0.42 | 64 | Large Cap Blend Equities | OLP vs SCHX | |
| Schwab U.S. Dividend Equity ETF | 0.43 | 0.57 | 0.57 | 95 | Dividend | OLP vs SCHD |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for OLP, 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 NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of -0.16, down from 0.14 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | -0.16 | -0.03 | 0.14 | 56 | Technology | |
| Exxon Mobil Corporation | -0.07 | 0.14 | 0.18 | 84 | Energy | |
| Corning Incorporated | -0.07 | 0.17 | 0.28 | 86 | Technology | |
| Shell plc | -0.03 | 0.13 | 0.20 | 80 | Energy | |
| Cisco Systems, Inc. | -0.01 | 0.20 | 0.29 | 93 | Technology |
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