Looking to balance out your exposure to TMO? The ETFs below have historically moved differently from TMO, 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 TMO
17 ETFs have low correlation with TMO (below 0.3), 1 of which are negatively correlated. The least correlated is State Street Energy Select Sector SPDR ETF (XLE) (Energy Equities) with a 1Y correlation of -0.04, down from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Energy Select Sector SPDR ETF | -0.04 | 0.10 | 0.15 | 61 | Energy Equities | TMO vs XLE | |
| VanEck Semiconductor ETF | 0.10 | 0.23 | 0.34 | 87 | Semiconductors, Technology Equities | TMO vs SMH | |
| iShares Semiconductor ETF | 0.11 | 0.24 | 0.35 | 89 | Semiconductors, Technology Equities | TMO vs SOXX | |
| Vanguard Information Technology ETF | 0.12 | 0.24 | 0.39 | 57 | Technology Equities | TMO vs VGT | |
| State Street Technology Select Sector SPDR ETF | 0.13 | 0.23 | 0.39 | 60 | Technology Equities | TMO vs XLK |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for TMO, 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 CF Industries Holdings, Inc. (CF) (Basic Materials) with a 1Y correlation of -0.11, down from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| CF Industries Holdings, Inc. | -0.11 | 0.06 | 0.09 | 64 | Basic Materials | |
| Diamondback Energy, Inc. | -0.10 | 0.02 | 0.11 | 72 | Energy | |
| Devon Energy Corporation | -0.10 | 0.08 | 0.15 | 71 | Energy | |
| Altria Group, Inc. | -0.10 | 0.04 | 0.10 | 63 | Consumer Defensive | |
| ConocoPhillips Company | -0.08 | 0.06 | 0.12 | 68 | Energy |
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