Looking to balance out your exposure to TEVA? The ETFs below have historically moved differently from TEVA, 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 TEVA
3 ETFs have low correlation with TEVA (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.23, down from 0.34 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.23 | 0.29 | 0.34 | 54 | Nasdaq-100 | TEVA vs QQQ | |
| State Street SPDR S&P 500 ETF | 0.27 | 0.34 | 0.40 | 71 | S&P 500 | TEVA vs SPY | |
| iShares Core S&P 500 ETF | 0.27 | 0.34 | 0.40 | 72 | S&P 500 | TEVA vs IVV | |
| State Street Health Care Select Sector SPDR ETF | 0.34 | 0.29 | 0.34 | 60 | Health & Biotech Equities | TEVA vs XLV | |
| iShares U.S. Pharmaceuticals ETF | 0.38 | 0.37 | 0.41 | 95 | Health & Biotech Equities | TEVA vs IHE |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for TEVA, 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 TotalEnergies SE (TTE) (Energy) with a 1Y correlation of -0.07, down from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| TotalEnergies SE | -0.07 | 0.04 | 0.09 | 86 | Energy | |
| Verizon Communications Inc. | 0.04 | 0.06 | 0.15 | 63 | Communication Services | |
| Walmart Inc. | 0.04 | 0.11 | 0.15 | 59 | Consumer Defensive | |
| The Coca-Cola Company | 0.05 | 0.08 | 0.14 | 86 | Consumer Defensive | |
| NextEra Energy, Inc. | 0.06 | 0.08 | 0.14 | 74 | Utilities |
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