Looking to balance out your exposure to ROKU? The ETFs below have the lowest correlation with ROKU — they tend to move on their own, which can help reduce risk when ROKU drops. The stock ideas table highlights individual companies that behave independently from ROKU.
Best Diversifiers for ROKU
3 ETFs have low correlation with ROKU (below 0.3), 1 of which are negatively correlated. The least correlated is State Street Energy Select Sector SPDR ETF (XLE) (Energy Equities) with a 1Y correlation of -0.08, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Energy Select Sector SPDR ETF | -0.08 | 0.08 | 0.11 | 59 | Energy Equities | ROKU vs XLE | |
| Schwab U.S. Dividend Equity ETF | 0.13 | 0.26 | 0.34 | 91 | Dividend | ROKU vs SCHD | |
| JPMorgan Ultra-Short Income ETF | 0.13 | 0.10 | 0.12 | 99 | Ultrashort Bond | ROKU vs JPST | |
| iShares iBoxx $ High Yield Corporate Bond ETF | 0.43 | 0.42 | 0.47 | 61 | High Yield Bonds | ROKU vs HYG | |
| Invesco QQQ ETF | 0.47 | 0.48 | 0.55 | 53 | Nasdaq-100 | ROKU vs QQQ |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ROKU, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ROKU and solid risk/return profiles. The least correlated is Johnson & Johnson (JNJ) (Healthcare) with a 1Y correlation of -0.14, down from -0.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Johnson & Johnson | -0.14 | -0.06 | -0.00 | 96 | Healthcare | |
| Occidental Petroleum Corporation | -0.13 | 0.04 | 0.09 | 67 | Energy | |
| Ovintiv Inc. | -0.11 | 0.10 | 0.16 | 80 | Energy | |
| Targa Resources Corp. | -0.11 | 0.10 | 0.16 | 94 | Energy | |
| Philip Morris International Inc. | -0.11 | 0.02 | 0.06 | 52 | Consumer Defensive |
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