Looking to balance out your exposure to ROP? The ETFs below have the lowest correlation with ROP — they tend to move on their own, which can help reduce risk when ROP drops. The stock ideas table highlights individual companies that behave independently from ROP.
Best Diversifiers for ROP
5 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 -0.16, down from 0.30 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Ultra Semiconductors | -0.16 | 0.15 | 0.30 | 78 | Leveraged Equities, Semiconductors | ROP vs USD | |
| iShares 1-3 Year Treasury Bond ETF | 0.09 | 0.11 | 0.14 | 85 | Government Bonds, Short-Term Bond | ROP vs SHY | |
| Vanguard S&P 500 ETF | 0.12 | 0.42 | 0.54 | 68 | S&P 500 | ROP vs VOO | |
| State Street SPDR S&P 500 ETF | 0.13 | 0.42 | 0.54 | 67 | S&P 500 | ROP vs SPY | |
| State Street SPDR Dow Jones Industrial Average ETF... | 0.25 | 0.49 | 0.57 | 57 | Large Cap Blend Equities | ROP vs DIA |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ROP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ROP and solid risk/return profiles. The least correlated is Onto Innovation Inc. (ONTO) (Technology) with a 1Y correlation of -0.20, down from 0.23 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Onto Innovation Inc. | -0.20 | 0.10 | 0.23 | 96 | Technology | |
| Western Digital Corporation | -0.18 | 0.08 | 0.20 | 99 | Technology | |
| ASML Holding N.V. | -0.18 | 0.13 | 0.30 | 95 | Technology | |
| Teradyne, Inc. | -0.18 | 0.15 | 0.29 | 97 | Technology | |
| Ultra Clean Holdings, Inc. | -0.17 | 0.12 | 0.23 | 97 | Technology |
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