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
283 ETFs have low correlation with ORLY (below 0.3), 65 of which are negatively correlated. The least correlated is iShares Semiconductor ETF (SOXX) (Semiconductors) with a 1Y correlation of -0.18, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Semiconductor ETF | -0.18 | -0.01 | 0.13 | 96 | Semiconductors, Technology Equities | ORLY vs SOXX | |
| ProShares Ultra Semiconductors | -0.18 | -0.04 | 0.12 | 89 | Leveraged Equities, Semiconductors | ORLY vs USD | |
| First Trust Nasdaq Semiconductor ETF | -0.17 | -0.02 | 0.12 | 97 | Semiconductors, Technology Equities | ORLY vs FTXL | |
| Direxion Daily Semiconductor Bull 3X ETF | -0.17 | -0.01 | 0.13 | 97 | Leveraged Equities, Semiconductors | ORLY vs SOXL | |
| Xtrackers Semiconductor Select Equity ETF | -0.16 | -0.03 | -0.03 | 97 | Semiconductors, Technology Equities | ORLY vs CHPS |
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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 -0.19, down from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Micron Technology, Inc. | -0.19 | -0.08 | 0.06 | 99 | Technology | |
| Taiwan Semiconductor Manufacturing Company Limited | -0.17 | -0.08 | 0.05 | 95 | Technology | |
| Advanced Micro Devices, Inc. | -0.16 | 0.01 | 0.12 | 97 | Technology | |
| First Solar, Inc. | -0.16 | -0.05 | 0.03 | 81 | Technology | |
| Lumentum Holdings Inc. | -0.15 | -0.05 | 0.05 | 99 | Technology |
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