Looking to balance out your exposure to RNR? The ETFs below have the lowest correlation with RNR — they tend to move on their own, which can help reduce risk when RNR drops. The stock ideas table highlights individual companies that behave independently from RNR.
Best Diversifiers for RNR
15 ETFs have low correlation with RNR (below 0.3), 11 of which are negatively correlated. The least correlated is Direxion Daily Technology Bull 3X Shares (TECL) (Leveraged Equities) with a 1Y correlation of -0.23, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Direxion Daily Technology Bull 3X Shares | -0.23 | -0.00 | 0.11 | 85 | Leveraged Equities, Technology Equities | RNR vs TECL | |
| Vanguard Information Technology ETF | -0.22 | -0.01 | 0.11 | 76 | Technology Equities | RNR vs VGT | |
| Direxion Daily Semiconductor Bull 3X ETF | -0.21 | -0.03 | 0.08 | 97 | Leveraged Equities, Semiconductors | RNR vs SOXL | |
| iShares Semiconductor ETF | -0.20 | -0.03 | 0.08 | 97 | Semiconductors, Technology Equities | RNR vs SOXX | |
| Invesco QQQ ETF | -0.17 | 0.02 | 0.12 | 73 | Nasdaq-100 | RNR vs QQQ |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from RNR, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to RNR and solid risk/return profiles. The least correlated is Celestica Inc. (CLS) (Technology) with a 1Y correlation of -0.26, down from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Celestica Inc. | -0.26 | -0.07 | 0.07 | 94 | Technology | |
| Broadcom Inc. | -0.24 | -0.04 | 0.06 | 84 | Technology | |
| NVIDIA Corporation | -0.18 | -0.01 | 0.08 | 78 | Technology | |
| Brookfield Renewable Partners L.P. | -0.17 | 0.01 | 0.04 | 85 | Utilities | |
| Applied Materials, Inc. | -0.16 | -0.03 | 0.07 | 96 | Technology |
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