Looking to balance out your exposure to ON? The ETFs below have the lowest correlation with ON — they tend to move on their own, which can help reduce risk when ON drops. The stock ideas table highlights individual companies that behave independently from ON.
Best Diversifiers for ON
1 ETFs have low correlation with ON (below 0.3), 0 of which are negatively correlated. The least correlated is SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF (SHM) (Municipal Bonds) with a 1Y correlation of 0.16, roughly unchanged from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SPDR Nuveen Bloomberg Barclays Short Term Municipa... | 0.16 | 0.11 | 0.08 | 66 | Municipal Bonds | ON vs SHM | |
| Vanguard S&P 500 ETF | 0.51 | 0.58 | 0.63 | 66 | S&P 500 | ON vs VOO | |
| ProShares Ultra S&P500 | 0.51 | 0.58 | 0.64 | 54 | Leveraged Equities, S&P 500 | ON vs SSO | |
| SP Funds S&P 500 Sharia Industry Exclusions ETF | 0.53 | 0.59 | 0.65 | 65 | S&P 500 | ON vs SPUS | |
| Vanguard Information Technology ETF | 0.55 | 0.61 | 0.67 | 50 | Technology Equities | ON vs VGT |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ON, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ON and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.24, down from -0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.24 | -0.11 | -0.02 | 80 | Consumer Defensive | |
| Cheniere Energy, Inc. | -0.15 | 0.01 | 0.12 | 57 | Energy | |
| Verizon Communications Inc. | -0.14 | -0.03 | 0.00 | 61 | Communication Services | |
| Philip Morris International Inc. | -0.13 | -0.03 | 0.05 | 52 | Consumer Defensive | |
| Pinnacle West Capital Corporation | -0.11 | -0.05 | 0.02 | 83 | Utilities |
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Build a portfolio that complements ON
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