Looking to balance out your exposure to TPB? The ETFs below have the lowest correlation with TPB — they tend to move on their own, which can help reduce risk when TPB drops. The stock ideas table highlights individual companies that behave independently from TPB.
No Diversifiers Found for TPB
We do not have enough correlation history to rank diversifiers for this symbol yet.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from TPB, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to TPB and solid risk/return profiles. The least correlated is Valero Energy Corporation (VLO) (Energy) with a 1Y correlation of -0.16, down from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Valero Energy Corporation | -0.16 | 0.01 | 0.07 | 97 | Energy | |
| CF Industries Holdings, Inc. | -0.11 | 0.02 | 0.09 | 67 | Basic Materials | |
| Warrior Met Coal, Inc. | -0.07 | 0.04 | 0.13 | 79 | Basic Materials | |
| Western Midstream Partners, LP | -0.03 | 0.11 | 0.19 | 77 | Energy | |
| Targa Resources Corp. | -0.02 | 0.11 | 0.19 | 94 | Energy |
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