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 -0.09, 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 | -0.09 | 0.10 | 0.11 | 70 | Energy Equities | ROKU vs XLE | |
| Schwab U.S. Dividend Equity ETF | 0.11 | 0.27 | 0.32 | 85 | Dividend | ROKU vs SCHD | |
| iShares Silver Trust | 0.17 | 0.20 | 0.17 | 51 | Silver, Precious Metals | ROKU vs SLV | |
| iShares iBoxx $ High Yield Corporate Bond ETF | 0.42 | 0.42 | 0.47 | 57 | High Yield Bonds | ROKU vs HYG | |
| JPMorgan Equity Focus ETF | 0.48 | — | — | 53 | Large Cap Blend Equities | ROKU vs JPEF |
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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 -0.15, down from -0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Johnson & Johnson | -0.15 | -0.06 | -0.01 | 94 | Healthcare | |
| Ovintiv Inc. | -0.12 | 0.12 | 0.16 | 83 | Energy | |
| Apache Corporation | -0.10 | 0.10 | 0.14 | 91 | Energy | |
| Northrop Grumman Corporation | -0.09 | -0.03 | -0.03 | 54 | Industrials | |
| Cenovus Energy Inc. | -0.09 | 0.11 | 0.11 | 96 | Energy |
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