Looking to balance out your exposure to TRDA? The ETFs below have the lowest correlation with TRDA — they tend to move on their own, which can help reduce risk when TRDA drops. The stock ideas table highlights individual companies that behave independently from TRDA.
Best Diversifiers for TRDA
2 ETFs have low correlation with TRDA (below 0.3), 1 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.09, roughly unchanged from -0.04 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.09 | -0.04 | — | 100 | Ultrashort Bond | TRDA vs SGOV | |
| Vanguard S&P 500 ETF | 0.28 | 0.31 | — | 70 | S&P 500 | TRDA vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from TRDA, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to TRDA and solid risk/return profiles. The least correlated is Ovintiv Inc. (OVV) (Energy) with a 1Y correlation of -0.05, down from 0.10 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Ovintiv Inc. | -0.05 | 0.10 | — | 81 | Energy | |
| Clearway Energy, Inc. | 0.09 | 0.15 | — | 76 | Utilities | |
| Teekay Corporation | 0.10 | 0.11 | — | 84 | Energy | |
| Weatherford International plc | 0.12 | 0.16 | — | 93 | Energy | |
| Coca-Cola Consolidated, Inc. | 0.17 | 0.17 | — | 80 | Consumer Defensive |
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