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
3 ETFs have low correlation with TDOC (below 0.3), 0 of which are negatively correlated. The least correlated is Global X Lithium & Battery Tech ETF (LIT) (Lithium & Battery Metals) with a 1Y correlation of 0.18, down from 0.40 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X Lithium & Battery Tech ETF | 0.18 | 0.34 | 0.40 | 81 | Lithium & Battery Metals | TDOC vs LIT | |
| Vanguard International High Dividend Yield ETF | 0.26 | 0.34 | 0.39 | 82 | Dividend, Foreign Large Cap Equities | TDOC vs VYMI | |
| Vanguard Value ETF | 0.29 | 0.43 | 0.45 | 89 | Large Cap Value Equities | TDOC vs VTV | |
| Invesco QQQ ETF | 0.31 | 0.37 | 0.51 | 61 | Nasdaq-100 | TDOC vs QQQ | |
| State Street SPDR S&P 500 ETF | 0.37 | 0.44 | 0.53 | 66 | S&P 500 | TDOC vs SPY |
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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 Enbridge Inc. (ENB) (Energy) with a 1Y correlation of -0.16, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Enbridge Inc. | -0.16 | 0.08 | 0.18 | 88 | Energy | |
| TC Energy Corporation | -0.11 | 0.09 | 0.17 | 95 | Energy | |
| CVS Health Corporation | 0.07 | 0.18 | 0.19 | 92 | Healthcare | |
| BrightSpring Health Services Inc. Tangible Equity ... | 0.14 | — | — | 99 | Healthcare | |
| NIO Inc. | 0.14 | 0.27 | 0.41 | 56 | Consumer Cyclical |
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