Looking to balance out your exposure to OMC? The ETFs below have the lowest correlation with OMC — they tend to move on their own, which can help reduce risk when OMC drops. The stock ideas table highlights individual companies that behave independently from OMC.
Best Diversifiers for OMC
3 ETFs have low correlation with OMC (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco NASDAQ 100 ETF (QQQM) (Nasdaq-100) with a 1Y correlation of 0.06, down from 0.35 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco NASDAQ 100 ETF | 0.06 | 0.23 | 0.35 | 74 | Nasdaq-100 | OMC vs QQQM | |
| Vanguard S&P 500 ETF | 0.19 | 0.34 | 0.46 | 70 | S&P 500 | OMC vs VOO | |
| State Street SPDR S&P 500 ETF | 0.20 | 0.34 | 0.46 | 70 | S&P 500 | OMC vs SPY | |
| Schwab U.S. Dividend Equity ETF | 0.46 | 0.56 | 0.62 | 80 | Dividend | OMC vs SCHD |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from OMC, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to OMC and solid risk/return profiles. The least correlated is Eaton Corporation plc (ETN) (Industrials) with a 1Y correlation of -0.10, down from 0.31 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Eaton Corporation plc | -0.10 | 0.15 | 0.31 | 67 | Industrials | |
| nVent Electric plc | -0.07 | 0.19 | 0.35 | 97 | Industrials | |
| Applied Materials, Inc. | -0.06 | 0.16 | 0.29 | 96 | Technology | |
| Corning Incorporated | -0.01 | 0.22 | 0.36 | 98 | Technology | |
| InterDigital, Inc. | 0.01 | 0.17 | 0.29 | 51 | Communication Services |
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