Looking to balance out your exposure to RRX? The ETFs below have the lowest correlation with RRX — they tend to move on their own, which can help reduce risk when RRX drops. The stock ideas table highlights individual companies that behave independently from RRX.
Best Diversifiers for RRX
0 ETFs have low correlation with RRX (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 ETF (VOO) (S&P 500) with a 1Y correlation of 0.49, down from 0.60 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.49 | 0.53 | 0.60 | 74 | S&P 500 | RRX vs VOO | |
| State Street SPDR S&P 500 ETF | 0.50 | 0.53 | 0.60 | 74 | S&P 500 | RRX vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from RRX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to RRX and solid risk/return profiles. The least correlated is Tesla, Inc. (TSLA) (Consumer Cyclical) with a 1Y correlation of 0.22, down from 0.34 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Tesla, Inc. | 0.22 | 0.29 | 0.34 | 58 | Consumer Cyclical | |
| Brookfield Renewable Corporation | 0.33 | — | — | 71 | Utilities | |
| Fortress Transportation and Infrastructure Investo... | 0.34 | 0.35 | 0.37 | 84 | Industrials | |
| Carpenter Technology Corporation | 0.38 | 0.41 | 0.45 | 89 | Industrials | |
| MasTec, Inc. | 0.52 | 0.54 | 0.55 | 95 | Industrials |
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