Looking to balance out your exposure to OPRA? The ETFs below have historically moved differently from OPRA, 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 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 -0.10, roughly unchanged from -0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.10 | -0.08 | -0.03 | 100 | Ultrashort Bond | OPRA vs SGOV | |
| Schwab U.S. Dividend Equity ETF | 0.03 | 0.20 | 0.22 | 95 | Dividend | OPRA vs SCHD | |
| iShares Semiconductor ETF | 0.29 | 0.38 | 0.37 | 90 | Semiconductors, Technology Equities | OPRA vs SOXX | |
| Global X Artificial Intelligence & Technology ETF | 0.43 | 0.45 | 0.43 | 53 | Artificial Intelligence, Technology Equities | OPRA vs AIQ | |
| State Street SPDR S&P 500 ETF | 0.44 | 0.47 | 0.44 | 78 | S&P 500 | OPRA vs SPY |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for OPRA, 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 Coca-Cola Company (KO) (Consumer Defensive) with a 1Y correlation of -0.25, down from -0.05 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Coca-Cola Company | -0.25 | -0.09 | -0.05 | 87 | Consumer Defensive | |
| Permian Resources Corporation | -0.18 | 0.15 | 0.18 | 85 | Energy | |
| Arch Capital Group Ltd. | -0.12 | -0.00 | 0.06 | 65 | Financial Services | |
| Kinder Morgan, Inc. | -0.11 | 0.12 | 0.13 | 69 | Energy | |
| RenaissanceRe Holdings Ltd. | -0.10 | 0.01 | 0.06 | 82 | Financial Services |
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