Looking to balance out your exposure to RDY? The ETFs below have the lowest correlation with RDY — they tend to move on their own, which can help reduce risk when RDY drops. The stock ideas table highlights individual companies that behave independently from RDY.
Best Diversifiers for RDY
4 ETFs have low correlation with RDY (below 0.3), 1 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.07, roughly unchanged from 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.07 | -0.02 | 0.01 | 100 | Ultrashort Bond | RDY vs SGOV | |
| Invesco QQQ ETF | 0.16 | 0.18 | 0.24 | 73 | Nasdaq-100 | RDY vs QQQ | |
| ProShares Ultra S&P500 | 0.20 | 0.21 | 0.27 | 62 | Leveraged Equities, S&P 500 | RDY vs SSO | |
| Vanguard S&P 500 ETF | 0.20 | 0.21 | 0.28 | 70 | S&P 500 | RDY vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from RDY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to RDY and solid risk/return profiles. The least correlated is Equinor ASA (EQNR) (Energy) with a 1Y correlation of -0.11, down from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Equinor ASA | -0.11 | 0.01 | 0.07 | 82 | Energy | |
| Exxon Mobil Corporation | -0.08 | -0.01 | 0.04 | 85 | Energy | |
| American Electric Power Company, Inc. | -0.04 | 0.05 | 0.10 | 79 | Utilities | |
| Enterprise Products Partners L.P. | -0.03 | 0.05 | 0.11 | 85 | Energy | |
| Duke Energy Corporation | -0.01 | 0.07 | 0.11 | 53 | Utilities |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements RDY
Add RDY to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with RDY