Looking to balance out your exposure to ROOT? The ETFs below have historically moved differently from ROOT, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for ROOT
8 ETFs have low correlation with ROOT (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 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Energy Select Sector SPDR ETF | -0.09 | 0.12 | 0.13 | 76 | Energy Equities | ROOT vs XLE | |
| Global X Lithium & Battery Tech ETF | 0.11 | 0.21 | 0.31 | 78 | Lithium & Battery Metals | ROOT vs LIT | |
| Schwab U.S. Dividend Equity ETF | 0.19 | 0.26 | 0.31 | 95 | Dividend | ROOT vs SCHD | |
| State Street Health Care Select Sector SPDR ETF | 0.20 | 0.20 | 0.23 | 72 | Health & Biotech Equities | ROOT vs XLV | |
| VanEck Semiconductor ETF | 0.21 | 0.20 | 0.31 | 87 | Semiconductors, Technology Equities | ROOT vs SMH |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ROOT, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is CVS Health Corporation (CVS) (Healthcare) with a 1Y correlation of -0.03, down from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| CVS Health Corporation | -0.03 | 0.07 | 0.09 | 94 | Healthcare | |
| Walmart Inc. | -0.01 | 0.09 | 0.13 | 62 | Consumer Defensive | |
| Quanta Services, Inc. | 0.03 | 0.21 | 0.25 | 85 | Industrials | |
| Argan, Inc. | 0.06 | 0.16 | 0.18 | 89 | Industrials | |
| Intel Corporation | 0.06 | 0.18 | 0.26 | 98 | Technology |
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