Looking to balance out your exposure to SPWR? The ETFs below have historically moved differently from SPWR, 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 SPWR
1 ETFs have low correlation with SPWR (below 0.3), 0 of which are negatively correlated. The least correlated is Global X Autonomous & Electric Vehicles ETF (DRIV) (Global Equities) with a 1Y correlation of 0.28, roughly unchanged from 0.28 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X Autonomous & Electric Vehicles ETF | 0.28 | 0.28 | 0.28 | 52 | Global Equities | SPWR vs DRIV |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for SPWR, 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 General Electric Company (GE) (Industrials) with a 1Y correlation of -0.06, roughly unchanged from -0.06 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| General Electric Company | -0.06 | -0.06 | -0.06 | 74 | Industrials | |
| Ormat Technologies, Inc. | 0.02 | 0.02 | 0.02 | 52 | Utilities | |
| Bloom Energy Corporation | 0.13 | 0.13 | 0.13 | 97 | Industrials | |
| Albemarle Corporation | 0.13 | 0.13 | 0.13 | 77 | Basic Materials | |
| Ameresco, Inc. | 0.13 | 0.13 | 0.13 | 58 | Industrials |
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