Looking to balance out your exposure to RNGR? The ETFs below have the lowest correlation with RNGR — they tend to move on their own, which can help reduce risk when RNGR drops. The stock ideas table highlights individual companies that behave independently from RNGR.
Best Diversifiers for RNGR
1 ETFs have low correlation with RNGR (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 -0.02, roughly unchanged from -0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.02 | -0.02 | -0.04 | 100 | Ultrashort Bond | RNGR vs SGOV |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from RNGR, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to RNGR and solid risk/return profiles. The least correlated is Verizon Communications Inc. (VZ) (Communication Services) with a 1Y correlation of -0.00, roughly unchanged from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Verizon Communications Inc. | -0.00 | 0.02 | 0.03 | 59 | Communication Services | |
| Altria Group, Inc. | 0.01 | 0.04 | 0.05 | 69 | Consumer Defensive | |
| Murphy USA Inc. | 0.01 | 0.07 | 0.05 | 62 | Consumer Cyclical | |
| Teekay Corporation | 0.25 | 0.26 | 0.24 | 84 | Energy | |
| Teekay Tankers Ltd. | 0.27 | 0.26 | 0.20 | 82 | Energy |
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