Looking to balance out your exposure to TRNO? The ETFs below have historically moved differently from TRNO, 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 TRNO
3 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 0.08, down from 0.36 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Information Technology ETF | 0.08 | 0.21 | 0.36 | 60 | Technology Equities | TRNO vs VGT | |
| State Street SPDR S&P 500 ETF | 0.28 | 0.39 | 0.49 | 78 | S&P 500 | TRNO vs SPY | |
| Vanguard S&P 500 ETF | 0.29 | 0.39 | 0.49 | 78 | S&P 500 | TRNO vs VOO | |
| Industrial Select Sector SPDR Fund | 0.34 | 0.46 | 0.51 | 58 | Industrials Equities | TRNO vs XLI |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for TRNO, 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 Cencora Inc. (COR) (Healthcare) with a 1Y correlation of 0.14, roughly unchanged from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cencora Inc. | 0.14 | 0.07 | 0.16 | 50 | Healthcare | |
| Equinix, Inc. | 0.27 | 0.42 | 0.52 | 85 | Real Estate | |
| Agree Realty Corporation | 0.39 | 0.47 | 0.51 | 60 | Real Estate | |
| Innovative Industrial Properties, Inc. | 0.40 | 0.49 | 0.51 | 71 | Real Estate | |
| Equity LifeStyle Properties, Inc. | 0.40 | 0.46 | 0.57 | 66 | Real Estate |
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