Looking to balance out your exposure to OPY? The ETFs below have historically moved differently from OPY, 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 OPY
0 ETFs have low correlation with OPY (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.41, roughly unchanged from 0.46 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.41 | 0.45 | 0.46 | 72 | S&P 500 | OPY vs SPY |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for OPY, 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 Fabrinet (FN) (Technology) with a 1Y correlation of 0.20, roughly unchanged from 0.29 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Fabrinet | 0.20 | 0.24 | 0.29 | 70 | Technology | |
| The Goldman Sachs Group, Inc. | 0.53 | 0.51 | 0.53 | 82 | Financial Services |
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