Looking to balance out your exposure to OLP? The ETFs below have the lowest correlation with OLP — they tend to move on their own, which can help reduce risk when OLP drops. The stock ideas table highlights individual companies that behave independently from OLP.
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 0.17, down from 0.31 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| NEOS S&P 500 High Income ETF | 0.17 | 0.31 | — | 75 | Derivative Income, S&P 500 | OLP vs SPYI | |
| Schwab U.S. Large-Cap ETF | 0.18 | 0.34 | 0.44 | 71 | Large Cap Blend Equities | OLP vs SCHX | |
| Schwab U.S. Dividend Equity ETF | 0.44 | 0.57 | 0.57 | 85 | Dividend | OLP vs SCHD |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from OLP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to OLP and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of -0.14, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | -0.14 | -0.02 | 0.15 | 80 | Technology | |
| Oracle Corporation | -0.14 | 0.09 | 0.20 | 61 | Technology | |
| Exxon Mobil Corporation | -0.03 | 0.16 | 0.20 | 86 | Energy | |
| Corning Incorporated | 0.03 | 0.22 | 0.31 | 98 | Technology | |
| Shell plc | 0.03 | 0.16 | 0.22 | 81 | Energy |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements OLP
Add OLP to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with OLP