Looking to balance out your exposure to STRNY? The ETFs below have historically moved differently from STRNY, 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 STRNY
2 ETFs have low correlation with STRNY (below 0.3), 0 of which are negatively correlated. The least correlated is ProShares UltraPro S&P 500 (UPRO) (Leveraged Equities) with a 1Y correlation of 0.14, roughly unchanged from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraPro S&P 500 | 0.14 | 0.16 | 0.13 | 50 | Leveraged Equities, S&P 500 | STRNY vs UPRO | |
| iShares MSCI Emerging Markets ETF | 0.17 | 0.18 | 0.15 | 63 | Emerging Markets Equities | STRNY vs EEM |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for STRNY, 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 NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of -0.04, roughly unchanged from 0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | -0.04 | 0.00 | 0.03 | 56 | Technology | |
| Citigroup Inc. | 0.01 | 0.08 | 0.08 | 84 | Financial Services | |
| Apple Inc | 0.03 | 0.10 | 0.09 | 89 | Technology | |
| Taiwan Semiconductor Manufacturing Company Limited | 0.04 | 0.02 | 0.04 | 87 | Technology | |
| Brookfield Renewable Partners L.P. | 0.06 | 0.19 | 0.16 | 72 | Utilities |
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