Looking to balance out your exposure to ORLY? The ETFs below have the lowest correlation with ORLY — they tend to move on their own, which can help reduce risk when ORLY drops. The stock ideas table highlights individual companies that behave independently from ORLY.
Best Diversifiers for ORLY
252 ETFs have low correlation with ORLY (below 0.3), 100 of which are negatively correlated. The least correlated is iShares Semiconductor ETF (SOXX) (Semiconductors) with a 1Y correlation of -0.23, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Semiconductor ETF | -0.23 | -0.05 | 0.11 | 91 | Semiconductors, Technology Equities | ORLY vs SOXX | |
| ProShares Ultra Semiconductors | -0.22 | -0.07 | 0.10 | 60 | Leveraged Equities, Semiconductors | ORLY vs USD | |
| Invesco AI and Next Gen Software ETF | -0.21 | -0.01 | 0.14 | 85 | Technology Equities | ORLY vs IGPT | |
| Direxion Daily Semiconductor Bull 3X ETF | -0.21 | -0.05 | 0.11 | 91 | Leveraged Equities, Semiconductors | ORLY vs SOXL | |
| First Trust Nasdaq Semiconductor ETF | -0.21 | -0.05 | 0.10 | 92 | Semiconductors, Technology Equities | ORLY vs FTXL |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ORLY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ORLY and solid risk/return profiles. The least correlated is Micron Technology, Inc. (MU) (Technology) with a 1Y correlation of -0.24, down from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Micron Technology, Inc. | -0.24 | -0.12 | 0.04 | 99 | Technology | |
| First Solar, Inc. | -0.22 | -0.08 | 0.01 | 61 | Technology | |
| Taiwan Semiconductor Manufacturing Company Limited | -0.21 | -0.09 | 0.04 | 89 | Technology | |
| Coherent Corp. | -0.20 | -0.07 | 0.04 | 92 | Technology | |
| Talen Energy Corporation | -0.20 | -0.09 | -0.09 | 67 | Utilities |
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