Looking to diversify beyond TDAQ? The ETFs below have the lowest correlation with TDAQ — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from TDAQ.
Best Diversifiers for TDAQ
336 ETFs have low correlation with TDAQ (below 0.3), 38 of which are negatively correlated. The least correlated is Alerian MLP ETF (AMLP) (MLPs) with a 1Y correlation of -0.15, roughly unchanged from -0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Alerian MLP ETF | -0.15 | -0.15 | -0.15 | 56 | MLPs | TDAQ vs AMLP | |
| Vanguard Energy ETF | -0.14 | -0.14 | -0.14 | 60 | Energy Equities | TDAQ vs VDE | |
| ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP In... | -0.13 | -0.13 | -0.13 | 62 | Leveraged Equities | TDAQ vs MLPR | |
| First Trust Utilities AlphaDEX Fund | -0.11 | -0.11 | -0.11 | 51 | Utilities Equities | TDAQ vs FXU | |
| Westwood Salient Enhanced Energy Income ETF | -0.11 | -0.11 | -0.11 | 62 | Energy Equities | TDAQ vs WEEI |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from TDAQ, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to TDAQ and solid risk/return profiles. The least correlated is Duke Energy Corporation (DUK) (Utilities) with a 1Y correlation of -0.39, roughly unchanged from -0.39 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Duke Energy Corporation | -0.39 | -0.39 | -0.39 | 64 | Utilities | |
| Waste Management, Inc. | -0.36 | -0.36 | -0.36 | 56 | Industrials | |
| Altria Group, Inc. | -0.32 | -0.32 | -0.32 | 80 | Consumer Defensive | |
| PepsiCo, Inc. | -0.31 | -0.31 | -0.31 | 53 | Consumer Defensive | |
| Chubb Limited | -0.30 | -0.30 | -0.30 | 82 | Financial Services |
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