Looking to balance out your exposure to TNK? The ETFs below have the lowest correlation with TNK — they tend to move on their own, which can help reduce risk when TNK drops. The stock ideas table highlights individual companies that behave independently from TNK.
Best Diversifiers for TNK
2 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 0.04, roughly unchanged from 0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | 0.04 | 0.01 | 0.02 | 100 | Ultrashort Bond | TNK vs SGOV | |
| Vanguard S&P 500 ETF | 0.10 | 0.12 | 0.17 | 70 | S&P 500 | TNK vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from TNK, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to TNK and solid risk/return profiles. The least correlated is Duke Energy Corporation (DUK) (Utilities) with a 1Y correlation of -0.09, roughly unchanged from -0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Duke Energy Corporation | -0.09 | -0.04 | -0.04 | 53 | Utilities | |
| Altria Group, Inc. | -0.07 | -0.06 | 0.05 | 69 | Consumer Defensive | |
| Fox Corporation | -0.05 | 0.03 | 0.13 | 55 | Communication Services | |
| F5 Networks, Inc. | 0.01 | 0.07 | 0.09 | 68 | Technology | |
| Eli Lilly and Company | 0.01 | 0.04 | 0.01 | 72 | Healthcare |
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