Looking to balance out your exposure to TNGX? The ETFs below have the lowest correlation with TNGX — they tend to move on their own, which can help reduce risk when TNGX drops. The stock ideas table highlights individual companies that behave independently from TNGX.
Best Diversifiers for TNGX
1 ETFs have low correlation with TNGX (below 0.3), 0 of which are negatively correlated. The least correlated is Direxion Daily Semiconductor Bull 3X ETF (SOXL) (Leveraged Equities) with a 1Y correlation of 0.10, down from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Direxion Daily Semiconductor Bull 3X ETF | 0.10 | 0.16 | 0.22 | 97 | Leveraged Equities, Semiconductors | TNGX vs SOXL |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from TNGX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to TNGX and solid risk/return profiles. The least correlated is Agnico Eagle Mines Limited (AEM) (Basic Materials) with a 1Y correlation of -0.05, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Agnico Eagle Mines Limited | -0.05 | 0.05 | 0.10 | 66 | Basic Materials | |
| Wheaton Precious Metals Corp. | -0.04 | 0.06 | 0.11 | 64 | Basic Materials | |
| GE Vernova Inc. | 0.05 | — | — | 87 | Utilities | |
| Imperial Oil Limited | 0.06 | 0.03 | 0.08 | 91 | Energy | |
| Broadcom Inc. | 0.08 | 0.12 | 0.18 | 84 | Technology |
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