Looking to balance out your exposure to TLRY? The ETFs below have the lowest correlation with TLRY — they tend to move on their own, which can help reduce risk when TLRY drops. The stock ideas table highlights individual companies that behave independently from TLRY.
Best Diversifiers for TLRY
0 ETFs have low correlation with TLRY (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.32, down from 0.43 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.32 | 0.35 | 0.43 | 59 | S&P 500 | TLRY vs SPY | |
| Vanguard S&P 500 ETF | 0.32 | 0.35 | 0.43 | 59 | S&P 500 | TLRY vs VOO | |
| iShares Russell 2000 ETF | 0.45 | 0.46 | 0.54 | 67 | Small Cap Blend Equities | TLRY vs IWM |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from TLRY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to TLRY and solid risk/return profiles. The least correlated is Plains All American Pipeline, L.P. (PAA) (Energy) with a 1Y correlation of -0.05, down from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Plains All American Pipeline, L.P. | -0.05 | 0.11 | 0.21 | 80 | Energy | |
| Enterprise Products Partners L.P. | -0.02 | 0.10 | 0.19 | 85 | Energy | |
| Energy Transfer LP | 0.03 | 0.14 | 0.22 | 72 | Energy | |
| Halliburton Company | 0.05 | 0.16 | 0.22 | 88 | Energy | |
| BP p.l.c. | 0.06 | 0.13 | 0.17 | 77 | Energy |
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