Looking to balance out your exposure to OPEN? The ETFs below have historically moved differently from OPEN, 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 OPEN
3 ETFs have low correlation with OPEN (below 0.3), 0 of which are negatively correlated. The least correlated is Direxion Daily Semiconductor Bull 3X ETF (SOXL) (Leveraged Equities) with a 1Y correlation of 0.25, down from 0.43 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Direxion Daily Semiconductor Bull 3X ETF | 0.25 | 0.34 | 0.43 | 90 | Leveraged Equities, Semiconductors | OPEN vs SOXL | |
| State Street Technology Select Sector SPDR ETF | 0.29 | 0.35 | 0.45 | 55 | Technology Equities | OPEN vs XLK | |
| Vanguard Information Technology ETF | 0.29 | 0.38 | 0.48 | 52 | Technology Equities | OPEN vs VGT | |
| State Street SPDR S&P 500 ETF | 0.36 | 0.43 | 0.49 | 67 | S&P 500 | OPEN vs SPY | |
| Vanguard S&P 500 ETF | 0.36 | 0.43 | 0.49 | 68 | S&P 500 | OPEN vs VOO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for OPEN, 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 The New York Times Company (NYT) (Communication Services) with a 1Y correlation of 0.01, down from 0.31 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The New York Times Company | 0.01 | 0.20 | 0.31 | 84 | Communication Services | |
| MBX Biosciences, Inc | 0.03 | — | — | 97 | Healthcare | |
| Texas Roadhouse, Inc. | 0.05 | 0.16 | 0.26 | 58 | Consumer Cyclical | |
| Berkshire Hathaway Inc. | 0.06 | 0.15 | 0.20 | 61 | Financial Services | |
| NVIDIA Corporation | 0.06 | 0.19 | 0.33 | 56 | Technology |
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