Looking to balance out your exposure to TRDA? The ETFs below have historically moved differently from TRDA, 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 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 -0.03, roughly unchanged from -0.03 over 3 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 | -0.03 | -0.03 | — | 100 | Ultrashort Bond | TRDA vs SGOV | |
| Vanguard S&P 500 ETF | 0.27 | 0.32 | — | 68 | S&P 500 | TRDA vs VOO |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for TRDA, 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 Ovintiv Inc. (OVV) (Energy) with a 1Y correlation of -0.15, down from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Ovintiv Inc. | -0.15 | 0.05 | 0.07 | 84 | Energy | |
| Altria Group, Inc. | -0.14 | -0.01 | -0.02 | 66 | Consumer Defensive | |
| The Cigna Group | 0.02 | 0.06 | — | 51 | Healthcare | |
| Colgate-Palmolive Company | 0.03 | 0.02 | — | 59 | Consumer Defensive | |
| Coca-Cola Consolidated, Inc. | 0.06 | 0.14 | — | 87 | Consumer Defensive |
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