Looking to balance out your exposure to ON? The ETFs below have historically moved differently from ON, 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 ON
0 ETFs have low correlation with ON (below 0.3), 0 of which are negatively correlated. The least correlated is ProShares Ultra S&P500 (SSO) (Leveraged Equities) with a 1Y correlation of 0.53, roughly unchanged from 0.63 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Ultra S&P500 | 0.53 | 0.58 | 0.63 | 61 | Leveraged Equities, S&P 500 | ON vs SSO | |
| State Street SPDR S&P 500 ETF | 0.55 | 0.58 | 0.63 | 71 | S&P 500 | ON vs SPY | |
| Vanguard S&P 500 ETF | 0.55 | 0.58 | 0.63 | 72 | S&P 500 | ON vs VOO | |
| SP Funds S&P 500 Sharia Industry Exclusions ETF | 0.56 | 0.59 | 0.65 | 66 | S&P 500 | ON vs SPUS | |
| Global X US Infrastructure Development ETF | 0.57 | 0.56 | 0.59 | 55 | Infrastructure Equities, Industrials Equities | ON vs PAVE |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ON, 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 Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.28, down from -0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.28 | -0.13 | -0.04 | 63 | Consumer Defensive | |
| Philip Morris International Inc. | -0.16 | -0.04 | 0.05 | 63 | Consumer Defensive | |
| Verizon Communications Inc. | -0.16 | -0.05 | -0.00 | 63 | Communication Services | |
| Pinnacle West Capital Corporation | -0.11 | -0.04 | 0.03 | 69 | Utilities | |
| AbbVie Inc. | -0.09 | 0.05 | 0.08 | 73 | Healthcare |
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