Looking to balance out your exposure to ONON? The ETFs below have the lowest correlation with ONON — they tend to move on their own, which can help reduce risk when ONON drops. The stock ideas table highlights individual companies that behave independently from ONON.
Best Diversifiers for ONON
1 ETFs have low correlation with ONON (below 0.3), 0 of which are negatively correlated. The least correlated is VanEck Semiconductor ETF (SMH) (Semiconductors) with a 1Y correlation of 0.29, down from 0.44 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| VanEck Semiconductor ETF | 0.29 | 0.34 | 0.44 | 94 | Semiconductors, Technology Equities | ONON vs SMH | |
| Vanguard International High Dividend Yield ETF | 0.32 | 0.33 | — | 70 | Dividend, Foreign Large Cap Equities | ONON vs VYMI | |
| Invesco S&P 500 Momentum ETF | 0.35 | 0.40 | — | 68 | Momentum, S&P 500 | ONON vs SPMO | |
| Vanguard S&P 500 ETF | 0.43 | 0.45 | — | 59 | S&P 500 | ONON vs VOO | |
| State Street SPDR S&P 500 ETF | 0.44 | 0.46 | — | 59 | S&P 500 | ONON vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ONON, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ONON and solid risk/return profiles. The least correlated is Diamondback Energy, Inc. (FANG) (Energy) with a 1Y correlation of -0.07, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Diamondback Energy, Inc. | -0.07 | 0.10 | 0.15 | 76 | Energy | |
| Cenovus Energy Inc. | -0.06 | 0.08 | 0.14 | 91 | Energy | |
| Ovintiv Inc. | -0.06 | 0.12 | 0.18 | 76 | Energy | |
| Apache Corporation | -0.03 | 0.08 | 0.16 | 87 | Energy | |
| Energy Transfer LP | -0.03 | 0.15 | — | 72 | Energy |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements ONON
Add ONON to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with ONON