Looking to balance out your exposure to TNET? The ETFs below have the lowest correlation with TNET — they tend to move on their own, which can help reduce risk when TNET drops. The stock ideas table highlights individual companies that behave independently from TNET.
Best Diversifiers for TNET
3 ETFs have low correlation with TNET (below 0.3), 0 of which are negatively correlated. The least correlated is ProShares Ultra QQQ (QLD) (Leveraged Equities) with a 1Y correlation of 0.07, down from 0.34 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Ultra QQQ | 0.07 | 0.18 | 0.34 | 69 | Leveraged Equities | TNET vs QLD | |
| Vanguard S&P 500 ETF | 0.19 | 0.28 | 0.43 | 70 | S&P 500 | TNET vs VOO | |
| Vanguard Total Stock Market ETF | 0.21 | 0.30 | 0.44 | 68 | Large Cap Blend Equities | TNET vs VTI |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from TNET, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to TNET and solid risk/return profiles. The least correlated is Eli Lilly and Company (LLY) (Healthcare) with a 1Y correlation of -0.03, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Eli Lilly and Company | -0.03 | 0.09 | 0.14 | 72 | Healthcare | |
| Cboe Global Markets, Inc. | -0.03 | -0.01 | 0.13 | 68 | Financial Services | |
| Lattice Semiconductor Corporation | 0.00 | 0.15 | 0.28 | 97 | Technology | |
| General Motors Company | 0.14 | 0.26 | 0.34 | 87 | Consumer Cyclical | |
| XPO Logistics, Inc. | 0.19 | 0.22 | 0.32 | 88 | Industrials |
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