Looking to balance out your exposure to ROIV? The ETFs below have the lowest correlation with ROIV — they tend to move on their own, which can help reduce risk when ROIV drops. The stock ideas table highlights individual companies that behave independently from ROIV.
Best Diversifiers for ROIV
4 ETFs have low correlation with ROIV (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco PHLX Semiconductor ETF (SOXQ) (Semiconductors) with a 1Y correlation of 0.20, roughly unchanged from 0.29 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco PHLX Semiconductor ETF | 0.20 | 0.29 | — | 96 | Semiconductors, Technology Equities | ROIV vs SOXQ | |
| State Street Technology Select Sector SPDR ETF | 0.22 | 0.30 | — | 82 | Technology Equities | ROIV vs XLK | |
| Invesco QQQ ETF | 0.24 | 0.32 | — | 74 | Nasdaq-100 | ROIV vs QQQ | |
| State Street SPDR S&P 500 ETF | 0.30 | 0.38 | — | 74 | S&P 500 | ROIV vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ROIV, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ROIV and solid risk/return profiles. The least correlated is Chord Energy Corp (CHRD) (Energy) with a 1Y correlation of -0.11, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chord Energy Corp | -0.11 | 0.12 | 0.11 | 78 | Energy | |
| Chevron Corporation | -0.04 | 0.09 | — | 84 | Energy | |
| Micron Technology, Inc. | 0.07 | 0.22 | — | 99 | Technology | |
| UnitedHealth Group Incorporated | 0.10 | 0.04 | — | 66 | Healthcare | |
| Nova Ltd | 0.11 | 0.21 | 0.23 | 90 | Technology |
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