Looking to balance out your exposure to RNG? The ETFs below have historically moved differently from RNG, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for RNG
1 ETFs have low correlation with RNG (below 0.3), 0 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 0.24, down from 0.50 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.24 | 0.41 | 0.50 | 72 | S&P 500 | RNG vs SPY |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for RNG, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Revolution Medicines, Inc. (RVMD) (Healthcare) with a 1Y correlation of 0.03, down from 0.29 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Revolution Medicines, Inc. | 0.03 | 0.20 | 0.29 | 99 | Healthcare | |
| DaVita Inc. | 0.08 | 0.19 | 0.21 | 85 | Healthcare | |
| Bruker Corporation | 0.09 | 0.26 | 0.31 | 67 | Healthcare | |
| Corcept Therapeutics Incorporated | 0.11 | 0.25 | 0.28 | 66 | Healthcare | |
| HF Sinclair Corp | 0.13 | 0.18 | 0.17 | 95 | Energy |
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