Looking to balance out your exposure to ORA? The ETFs below have historically moved differently from ORA, 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 ORA
1 ETFs have low correlation with ORA (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) (Commodities) with a 1Y correlation of 0.03, roughly unchanged from 0.11 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco Optimum Yield Diversified Commodity Strate... | 0.03 | 0.05 | 0.11 | 72 | Commodities | ORA vs PDBC | |
| Vanguard Total Stock Market ETF | 0.35 | 0.40 | 0.45 | 67 | Large Cap Blend Equities | ORA vs VTI | |
| Vanguard S&P 500 ETF | 0.35 | 0.38 | 0.43 | 68 | S&P 500 | ORA vs VOO | |
| State Street SPDR S&P 500 ETF | 0.35 | 0.38 | 0.43 | 67 | S&P 500 | ORA vs SPY | |
| Vanguard FTSE All-World ex-US ETF | 0.36 | 0.42 | 0.44 | 73 | Foreign Large Cap Equities | ORA vs VEU |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ORA, 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 Cboe Global Markets, Inc. (CBOE) (Financial Services) with a 1Y correlation of -0.14, down from 0.08 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cboe Global Markets, Inc. | -0.14 | -0.08 | 0.08 | 69 | Financial Services | |
| Exxon Mobil Corporation | -0.07 | 0.09 | 0.19 | 84 | Energy | |
| Consolidated Edison, Inc. | -0.07 | 0.15 | 0.22 | 59 | Utilities | |
| Duke Energy Corporation | -0.06 | 0.16 | 0.23 | 56 | Utilities | |
| British American Tobacco p.l.c. | 0.05 | 0.15 | 0.17 | 69 | Consumer Defensive |
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