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
12 ETFs have low correlation with TMO (below 0.3), 0 of which are negatively correlated. The least correlated is State Street Energy Select Sector SPDR ETF (XLE) (Energy Equities) with a 1Y correlation of 0.00, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Energy Select Sector SPDR ETF | 0.00 | 0.10 | 0.14 | 59 | Energy Equities | TMO vs XLE | |
| VanEck Semiconductor ETF | 0.13 | 0.23 | 0.35 | 90 | Semiconductors, Technology Equities | TMO vs SMH | |
| State Street Technology Select Sector SPDR ETF | 0.15 | 0.24 | 0.39 | 54 | Technology Equities | TMO vs XLK | |
| Fidelity MSCI Information Technology Index ETF | 0.16 | 0.24 | 0.40 | 51 | Technology Equities | TMO vs FTEC | |
| Vanguard Information Technology ETF | 0.16 | 0.24 | 0.40 | 50 | Technology Equities | TMO vs VGT |
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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 -0.13, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.13 | 0.04 | 0.10 | 80 | Consumer Defensive | |
| Cheniere Energy, Inc. | -0.09 | -0.00 | 0.06 | 57 | Energy | |
| Philip Morris International Inc. | -0.08 | 0.08 | 0.16 | 52 | Consumer Defensive | |
| Walmart Inc. | -0.07 | 0.08 | 0.19 | 69 | Consumer Defensive | |
| Diamondback Energy, Inc. | -0.07 | 0.03 | 0.10 | 80 | Energy |
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Build a portfolio that complements TMO
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