Looking to balance out your exposure to TDOC? The ETFs below have the lowest correlation with TDOC — they tend to move on their own, which can help reduce risk when TDOC drops. The stock ideas table highlights individual companies that behave independently from TDOC.
Best Diversifiers for TDOC
0 ETFs have low correlation with TDOC (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.37, down from 0.52 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.37 | 0.39 | 0.52 | 59 | Nasdaq-100 | TDOC vs QQQ | |
| Vanguard S&P 500 ETF | 0.41 | 0.45 | 0.53 | 59 | S&P 500 | TDOC vs VOO | |
| State Street SPDR S&P 500 ETF | 0.41 | 0.45 | 0.53 | 59 | S&P 500 | TDOC vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from TDOC, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to TDOC and solid risk/return profiles. The least correlated is TC Energy Corporation (TRP) (Energy) with a 1Y correlation of -0.08, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| TC Energy Corporation | -0.08 | 0.10 | 0.17 | 95 | Energy | |
| NIO Inc. | 0.16 | 0.29 | 0.42 | 64 | Consumer Cyclical | |
| BrightSpring Health Services Inc. Tangible Equity ... | 0.18 | — | — | 98 | Healthcare | |
| Apple Inc | 0.23 | 0.26 | 0.38 | 87 | Technology | |
| Leggett & Platt, Incorporated | 0.31 | 0.35 | 0.38 | 57 | Consumer Cyclical |
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