Looking to balance out your exposure to ROP? The ETFs below have historically moved differently from ROP, 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 ROP
6 ETFs have low correlation with ROP (below 0.3), 1 of which are negatively correlated. The least correlated is ProShares Ultra Semiconductors (USD) (Leveraged Equities) with a 1Y correlation of -0.23, down from 0.28 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Ultra Semiconductors | -0.23 | 0.11 | 0.28 | 52 | Leveraged Equities, Semiconductors | ROP vs USD | |
| State Street SPDR S&P 500 ETF | 0.07 | 0.39 | 0.52 | 67 | S&P 500 | ROP vs SPY | |
| iShares 1-3 Year Treasury Bond ETF | 0.08 | 0.10 | 0.14 | 90 | Government Bonds, Short-Term Bond | ROP vs SHY | |
| ARK Genomic Revolution Multi-Sector ETF | 0.09 | 0.23 | 0.30 | 59 | Health & Biotech Equities, Actively Managed | ROP vs ARKG | |
| Vanguard S&P 500 ETF | 0.10 | 0.40 | 0.52 | 68 | S&P 500 | ROP vs VOO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ROP, 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 Onto Innovation Inc. (ONTO) (Technology) with a 1Y correlation of -0.27, down from 0.21 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Onto Innovation Inc. | -0.27 | 0.07 | 0.21 | 93 | Technology | |
| Lam Research Corporation | -0.26 | 0.09 | 0.24 | 96 | Technology | |
| Ultra Clean Holdings, Inc. | -0.25 | 0.08 | 0.20 | 95 | Technology | |
| Corning Incorporated | -0.24 | 0.10 | 0.25 | 86 | Technology | |
| KLA Corporation | -0.24 | 0.12 | 0.27 | 87 | Technology |
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