Looking to balance out your exposure to SPOK? The ETFs below have historically moved differently from SPOK, 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 SPOK
2 ETFs have low correlation with SPOK (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.10, down from 0.26 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.10 | 0.26 | 0.26 | 67 | S&P 500 | SPOK vs SPY | |
| Schwab U.S. Large-Cap ETF | 0.11 | 0.26 | 0.26 | 64 | Large Cap Blend Equities | SPOK vs SCHX |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for SPOK, 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 JPMorgan Chase & Co. (JPM) (Financial Services) with a 1Y correlation of 0.02, down from 0.17 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| JPMorgan Chase & Co. | 0.02 | 0.16 | 0.17 | 71 | Financial Services | |
| Harmony Gold Mining Company Limited | 0.07 | 0.11 | 0.10 | 56 | Basic Materials | |
| Eli Lilly and Company | 0.09 | 0.09 | 0.07 | 83 | Healthcare | |
| Energy Transfer LP | 0.21 | 0.18 | 0.18 | 81 | Energy |
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