Looking to balance out your exposure to TEX? The ETFs below have the lowest correlation with TEX — they tend to move on their own, which can help reduce risk when TEX drops. The stock ideas table highlights individual companies that behave independently from TEX.
Best Diversifiers for TEX
0 ETFs have low correlation with TEX (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.45, roughly unchanged from 0.46 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.45 | 0.40 | 0.46 | 73 | Nasdaq-100 | TEX vs QQQ | |
| Vanguard S&P 500 ETF | 0.52 | 0.50 | 0.57 | 70 | S&P 500 | TEX vs VOO | |
| State Street SPDR S&P 500 ETF | 0.52 | 0.50 | 0.57 | 70 | S&P 500 | TEX vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from TEX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to TEX and solid risk/return profiles. The least correlated is Chevron Corporation (CVX) (Energy) with a 1Y correlation of 0.00, down from 0.31 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chevron Corporation | 0.00 | 0.22 | 0.31 | 83 | Energy | |
| EOG Resources, Inc. | 0.02 | 0.23 | 0.30 | 69 | Energy | |
| Walmart Inc. | 0.03 | 0.09 | 0.16 | 63 | Consumer Defensive | |
| Johnson & Johnson | 0.03 | 0.08 | 0.10 | 92 | Healthcare | |
| RenaissanceRe Holdings Ltd. | 0.04 | 0.12 | 0.22 | 58 | Financial Services |
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