Looking to balance out your exposure to SHOE? The ETFs below have the lowest correlation with SHOE — they tend to move on their own, which can help reduce risk when SHOE drops. The stock ideas table highlights individual companies that behave independently from SHOE.
No Diversifiers Found for SHOE
We do not have enough correlation history to rank diversifiers for this symbol yet.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SHOE, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SHOE and solid risk/return profiles. The least correlated is Enterprise Products Partners L.P. (EPD) (Energy) with a 1Y correlation of -0.11, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Enterprise Products Partners L.P. | -0.11 | 0.09 | 0.19 | 83 | Energy | |
| NextEra Energy, Inc. | 0.07 | 0.13 | 0.15 | 73 | Utilities | |
| The AES Corporation | 0.10 | 0.21 | 0.25 | 75 | Utilities | |
| Amazon.com, Inc | 0.14 | 0.20 | 0.29 | 54 | Consumer Cyclical | |
| Merck & Co., Inc. | 0.16 | 0.11 | 0.09 | 92 | Healthcare |
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