Looking to balance out your exposure to OVV? The ETFs below have the lowest correlation with OVV — they tend to move on their own, which can help reduce risk when OVV drops. The stock ideas table highlights individual companies that behave independently from OVV.
Best Diversifiers for OVV
3 ETFs have low correlation with OVV (below 0.3), 2 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 -0.08, down from 0.32 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | -0.08 | 0.18 | 0.32 | 70 | S&P 500 | OVV vs SPY | |
| Vanguard International High Dividend Yield ETF | -0.03 | 0.22 | 0.38 | 66 | Dividend, Foreign Large Cap Equities | OVV vs VYMI | |
| iShares 0-3 Month Treasury Bond ETF | 0.12 | 0.01 | -0.02 | 100 | Ultrashort Bond | OVV vs SGOV | |
| Schwab U.S. Dividend Equity ETF | 0.36 | 0.43 | 0.46 | 80 | Dividend | OVV vs SCHD | |
| State Street Energy Select Sector SPDR ETF | 0.80 | 0.80 | 0.82 | 63 | Energy Equities | OVV vs XLE |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from OVV, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to OVV and solid risk/return profiles. The least correlated is AerCap Holdings N.V. (AER) (Industrials) with a 1Y correlation of -0.14, down from 0.30 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AerCap Holdings N.V. | -0.14 | 0.11 | 0.30 | 61 | Industrials | |
| Roku, Inc. | -0.12 | 0.12 | 0.16 | 78 | Communication Services | |
| Apple Inc | -0.07 | 0.05 | 0.16 | 89 | Technology | |
| Coca-Cola Consolidated, Inc. | -0.06 | 0.04 | 0.13 | 80 | Consumer Defensive | |
| NVIDIA Corporation | -0.05 | 0.05 | 0.18 | 78 | Technology |
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