Looking to balance out your exposure to TMO? The ETFs below have the lowest correlation with TMO — they tend to move on their own, which can help reduce risk when TMO drops. The stock ideas table highlights individual companies that behave independently from TMO.
Best Diversifiers for TMO
11 ETFs have low correlation with TMO (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco Solar ETF (TAN) (Alternative Energy Equities) with a 1Y correlation of 0.16, down from 0.29 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco Solar ETF | 0.16 | 0.24 | 0.29 | 68 | Alternative Energy Equities | TMO vs TAN | |
| iShares Floating Rate Bond ETF | 0.18 | 0.21 | 0.20 | 98 | Ultrashort Bond, Corporate Bonds | TMO vs FLOT | |
| VanEck Semiconductor ETF | 0.19 | 0.25 | 0.36 | 94 | Semiconductors, Technology Equities | TMO vs SMH | |
| State Street Technology Select Sector SPDR ETF | 0.20 | 0.25 | 0.41 | 66 | Technology Equities | TMO vs XLK | |
| iShares Expanded Tech Sector ETF | 0.20 | 0.25 | 0.40 | 61 | Technology Equities | TMO vs IGM |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from TMO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to TMO and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.15, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.15 | 0.04 | 0.10 | 72 | Consumer Defensive | |
| Welltower Inc. | -0.11 | 0.10 | 0.18 | 86 | Real Estate | |
| Walmart Inc. | -0.10 | 0.09 | 0.19 | 69 | Consumer Defensive | |
| The Southern Company | -0.05 | 0.11 | 0.21 | 55 | Utilities | |
| The Coca-Cola Company | -0.03 | 0.16 | 0.26 | 74 | Consumer Defensive |
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Build a portfolio that complements TMO
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