Looking to balance out your exposure to RDNT? The ETFs below have the lowest correlation with RDNT — they tend to move on their own, which can help reduce risk when RDNT drops. The stock ideas table highlights individual companies that behave independently from RDNT.
Best Diversifiers for RDNT
0 ETFs have low correlation with RDNT (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.39, roughly unchanged from 0.46 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.39 | 0.42 | 0.46 | 73 | Nasdaq-100 | RDNT vs QQQ | |
| State Street SPDR S&P 500 ETF | 0.46 | 0.46 | 0.51 | 70 | S&P 500 | RDNT vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from RDNT, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to RDNT and solid risk/return profiles. The least correlated is Murphy USA Inc. (MUSA) (Consumer Cyclical) with a 1Y correlation of -0.01, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Murphy USA Inc. | -0.01 | 0.09 | 0.16 | 62 | Consumer Cyclical | |
| Coca-Cola Consolidated, Inc. | 0.08 | 0.15 | 0.20 | 80 | Consumer Defensive | |
| Quest Diagnostics Incorporated | 0.11 | 0.14 | 0.22 | 59 | Healthcare | |
| Hawkins, Inc. | 0.14 | 0.27 | 0.33 | 52 | Basic Materials | |
| NVIDIA Corporation | 0.15 | 0.24 | 0.30 | 78 | Technology |
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