Looking to balance out your exposure to OPY? The ETFs below have the lowest correlation with OPY — they tend to move on their own, which can help reduce risk when OPY drops. The stock ideas table highlights individual companies that behave independently from OPY.
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 0.42, roughly unchanged from 0.46 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.42 | 0.45 | 0.46 | 70 | S&P 500 | OPY vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from OPY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to OPY and solid risk/return profiles. The least correlated is Fabrinet (FN) (Technology) with a 1Y correlation of 0.19, down from 0.29 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Fabrinet | 0.19 | 0.23 | 0.29 | 93 | Technology | |
| The Goldman Sachs Group, Inc. | 0.49 | 0.51 | 0.52 | 90 | Financial Services |
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