Looking to balance out your exposure to OPRA? The ETFs below have the lowest correlation with OPRA — they tend to move on their own, which can help reduce risk when OPRA drops. The stock ideas table highlights individual companies that behave independently from OPRA.
Best Diversifiers for OPRA
3 ETFs have low correlation with OPRA (below 0.3), 1 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.11, roughly unchanged from -0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.11 | -0.07 | -0.03 | 100 | Ultrashort Bond | OPRA vs SGOV | |
| Schwab U.S. Dividend Equity ETF | 0.07 | 0.21 | 0.22 | 77 | Dividend | OPRA vs SCHD | |
| VanEck Rare Earth and Strategic Metals ETF | 0.13 | 0.28 | 0.30 | 82 | Rare Earth & Strategic Metals | OPRA vs REMX | |
| State Street SPDR S&P 500 ETF | 0.41 | 0.47 | 0.44 | 60 | S&P 500 | OPRA vs SPY | |
| Vanguard S&P 500 ETF | 0.42 | 0.47 | 0.43 | 60 | S&P 500 | OPRA vs VOO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from OPRA, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to OPRA and solid risk/return profiles. The least correlated is The Coca-Cola Company (KO) (Consumer Defensive) with a 1Y correlation of -0.26, down from -0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Coca-Cola Company | -0.26 | -0.10 | -0.05 | 74 | Consumer Defensive | |
| Permian Resources Corporation | -0.11 | 0.19 | — | 74 | Energy | |
| RenaissanceRe Holdings Ltd. | -0.09 | 0.02 | 0.06 | 77 | Financial Services | |
| Kinder Morgan, Inc. | -0.07 | 0.15 | 0.15 | 71 | Energy | |
| The Travelers Companies, Inc. | -0.06 | 0.04 | 0.05 | 77 | Financial Services |
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