Looking to balance out your exposure to ONL? The ETFs below have historically moved differently from ONL, 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 ONL
2 ETFs have low correlation with ONL (below 0.3), 0 of which are negatively correlated. The least correlated is VanEck Semiconductor ETF (SMH) (Semiconductors) with a 1Y correlation of 0.15, roughly unchanged from 0.19 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| VanEck Semiconductor ETF | 0.15 | 0.19 | — | 87 | Semiconductors, Technology Equities | ONL vs SMH | |
| Schwab U.S. Dividend Equity ETF | 0.28 | 0.45 | — | 95 | Dividend | ONL vs SCHD |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ONL, 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 Enterprise Products Partners L.P. (EPD) (Energy) with a 1Y correlation of 0.01, down from 0.22 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Enterprise Products Partners L.P. | 0.01 | 0.18 | 0.22 | 88 | Energy | |
| Oruka Therapeutics, Inc | 0.02 | 0.14 | — | 99 | Healthcare | |
| ZIM Integrated Shipping Services Ltd. | 0.05 | 0.07 | 0.12 | 85 | Industrials | |
| Northwest Natural Holding Company | 0.07 | 0.29 | — | 77 | Utilities | |
| Coherent Corp. | 0.10 | 0.18 | — | 92 | Technology |
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