Looking to balance out your exposure to OVLY? The ETFs below have the lowest correlation with OVLY — they tend to move on their own, which can help reduce risk when OVLY drops. The stock ideas table highlights individual companies that behave independently from OVLY.
Best Diversifiers for OVLY
0 ETFs have low correlation with OVLY (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 ETF (VOO) (S&P 500) with a 1Y correlation of 0.34, roughly unchanged from 0.26 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.34 | 0.32 | 0.26 | 70 | S&P 500 | OVLY vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from OVLY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to OVLY and solid risk/return profiles. The least correlated is Bank of Hawaii Corporation (BOH) (Financial Services) with a 1Y correlation of 0.57, up from 0.35 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Bank of Hawaii Corporation | 0.57 | 0.44 | 0.35 | 60 | Financial Services | |
| Amalgamated Financial Corp. | 0.65 | 0.50 | 0.38 | 71 | Financial Services |
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