Looking to balance out your exposure to TNK? The ETFs below have historically moved differently from TNK, 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 TNK
3 ETFs have low correlation with TNK (below 0.3), 0 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of 0.02, roughly unchanged from 0.00 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | 0.02 | 0.02 | 0.00 | 100 | Ultrashort Bond | TNK vs SGOV | |
| Vanguard S&P 500 ETF | 0.12 | 0.10 | 0.16 | 78 | S&P 500 | TNK vs VOO | |
| iShares MSCI Brazil ETF | 0.23 | 0.17 | 0.22 | 64 | Latin America Equities | TNK vs EWZ |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for TNK, 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 Acadia Healthcare Company, Inc. (ACHC) (Healthcare) with a 1Y correlation of -0.10, down from 0.08 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Acadia Healthcare Company, Inc. | -0.10 | 0.01 | 0.08 | 65 | Healthcare | |
| Altria Group, Inc. | -0.06 | -0.05 | 0.04 | 66 | Consumer Defensive | |
| Eli Lilly and Company | -0.03 | 0.04 | 0.01 | 79 | Healthcare | |
| Duke Energy Corporation | -0.02 | -0.04 | -0.03 | 52 | Utilities | |
| NMI Holdings, Inc. | -0.01 | 0.07 | 0.12 | 67 | Financial Services |
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