Looking to balance out your exposure to OPEN? The ETFs below have the lowest correlation with OPEN — they tend to move on their own, which can help reduce risk when OPEN drops. The stock ideas table highlights individual companies that behave independently from OPEN.
Best Diversifiers for OPEN
4 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 0.22, down from 0.43 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Direxion Daily Semiconductor Bull 3X ETF | 0.22 | 0.33 | 0.43 | 93 | Leveraged Equities, Semiconductors | OPEN vs SOXL | |
| State Street Technology Select Sector SPDR ETF | 0.26 | 0.35 | 0.45 | 63 | Technology Equities | OPEN vs XLK | |
| Vanguard Information Technology ETF | 0.26 | 0.37 | 0.47 | 57 | Technology Equities | OPEN vs VGT | |
| Invesco QQQ ETF | 0.30 | 0.37 | 0.48 | 58 | Nasdaq-100 | OPEN vs QQQ | |
| Vanguard S&P 500 ETF | 0.31 | 0.42 | 0.49 | 66 | S&P 500 | OPEN vs VOO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from OPEN, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to OPEN and solid risk/return profiles. The least correlated is The New York Times Company (NYT) (Communication Services) with a 1Y correlation of -0.01, down from 0.32 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The New York Times Company | -0.01 | 0.20 | 0.32 | 79 | Communication Services | |
| MBX Biosciences, Inc | 0.00 | 0.09 | 0.09 | 96 | Healthcare | |
| The Cheesecake Factory Incorporated | 0.04 | 0.23 | 0.33 | 66 | Consumer Cyclical | |
| Berkshire Hathaway Inc. | 0.05 | 0.16 | 0.21 | 53 | Financial Services | |
| Vertiv Holdings Co. | 0.07 | 0.20 | 0.31 | 93 | Industrials |
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