Looking to balance out your exposure to TRNO? The ETFs below have the lowest correlation with TRNO — they tend to move on their own, which can help reduce risk when TRNO drops. The stock ideas table highlights individual companies that behave independently from TRNO.
Best Diversifiers for TRNO
2 ETFs have low correlation with TRNO (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard Information Technology ETF (VGT) (Technology Equities) with a 1Y correlation of 0.06, down from 0.36 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Information Technology ETF | 0.06 | 0.20 | 0.36 | 60 | Technology Equities | TRNO vs VGT | |
| State Street SPDR S&P 500 ETF | 0.27 | 0.38 | 0.49 | 66 | S&P 500 | TRNO vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from TRNO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to TRNO and solid risk/return profiles. The least correlated is Equinix, Inc. (EQIX) (Real Estate) with a 1Y correlation of 0.27, down from 0.52 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Equinix, Inc. | 0.27 | 0.43 | 0.52 | 86 | Real Estate | |
| Realty Income Corporation | 0.42 | 0.49 | 0.56 | 69 | Real Estate | |
| Innovative Industrial Properties, Inc. | 0.43 | 0.49 | 0.51 | 70 | Real Estate | |
| Agree Realty Corporation | 0.43 | 0.48 | 0.52 | 67 | Real Estate | |
| Equity LifeStyle Properties, Inc. | 0.45 | 0.48 | 0.59 | 57 | Real Estate |
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