Looking to balance out your exposure to TCPC? The ETFs below have the lowest correlation with TCPC — they tend to move on their own, which can help reduce risk when TCPC drops. The stock ideas table highlights individual companies that behave independently from TCPC.
Best Diversifiers for TCPC
2 ETFs have low correlation with TCPC (below 0.3), 0 of which are negatively correlated. The least correlated is Schwab U.S. Dividend Equity ETF (SCHD) (Dividend) with a 1Y correlation of 0.27, down from 0.43 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Schwab U.S. Dividend Equity ETF | 0.27 | 0.34 | 0.43 | 85 | Dividend | TCPC vs SCHD | |
| Amplify CWP Enhanced Dividend Income ETF | 0.28 | 0.32 | 0.41 | 69 | Derivative Income | TCPC vs DIVO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from TCPC, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to TCPC and solid risk/return profiles. The least correlated is Taiwan Semiconductor Manufacturing Company Limited (TSM) (Technology) with a 1Y correlation of 0.11, roughly unchanged from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Taiwan Semiconductor Manufacturing Company Limited | 0.11 | 0.12 | 0.19 | 95 | Technology | |
| JPMorgan Chase & Co. | 0.13 | 0.25 | 0.33 | 66 | Financial Services | |
| Annaly Capital Management, Inc. | 0.28 | 0.35 | 0.42 | 77 | Real Estate | |
| Fifth Third Bancorp | 0.28 | 0.33 | 0.39 | 77 | Financial Services | |
| Trinity Capital Inc. | 0.56 | 0.47 | 0.42 | 83 | Financial Services |
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