Looking to balance out your exposure to TNXP? The ETFs below have the lowest correlation with TNXP — they tend to move on their own, which can help reduce risk when TNXP drops. The stock ideas table highlights individual companies that behave independently from TNXP.
Best Diversifiers for TNXP
0 ETFs have low correlation with TNXP (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.45, up from 0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.45 | 0.24 | 0.27 | 74 | S&P 500 | TNXP vs SPY | |
| Vanguard S&P 500 ETF | 0.45 | 0.24 | 0.27 | 74 | S&P 500 | TNXP vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from TNXP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to TNXP and solid risk/return profiles. The least correlated is Walmart Inc. (WMT) (Consumer Defensive) with a 1Y correlation of -0.01, roughly unchanged from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Walmart Inc. | -0.01 | 0.02 | 0.04 | 66 | Consumer Defensive | |
| Amphenol Corporation | 0.15 | 0.13 | 0.18 | 77 | Technology | |
| Micron Technology, Inc. | 0.21 | 0.14 | 0.19 | 99 | Technology | |
| Taiwan Semiconductor Manufacturing Company Limited | 0.23 | 0.16 | 0.21 | 95 | Technology | |
| QUALCOMM Incorporated | 0.29 | 0.15 | 0.21 | 78 | Technology |
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