Looking to balance out your exposure to TRP? The ETFs below have the lowest correlation with TRP — they tend to move on their own, which can help reduce risk when TRP drops. The stock ideas table highlights individual companies that behave independently from TRP.
Best Diversifiers for TRP
26 ETFs have low correlation with TRP (below 0.3), 6 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| REX FANG & Innovation Equity Premium Income ETF | -0.10 | — | — | 54 | Technology Equities | TRP vs FEPI | |
| Janus Henderson B-BBB CLO ETF | -0.06 | 0.02 | — | 51 | CLO | TRP vs JBBB | |
| State Street Technology Select Sector SPDR ETF | -0.05 | 0.12 | 0.22 | 83 | Technology Equities | TRP vs XLK | |
| Goldman Sachs Nasdaq-100 Core Premium Income ETF | -0.05 | — | — | 81 | Nasdaq-100, Dividend | TRP vs GPIQ | |
| Invesco QQQ ETF | -0.05 | 0.12 | 0.22 | 73 | Nasdaq-100 | TRP vs QQQ |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from TRP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to TRP and solid risk/return profiles. The least correlated is Bio-Rad Laboratories, Inc. (BIO) (Healthcare) with a 1Y correlation of -0.16, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Bio-Rad Laboratories, Inc. | -0.16 | 0.06 | 0.14 | 68 | Healthcare | |
| Oracle Corporation | -0.13 | 0.06 | 0.15 | 58 | Technology | |
| Amazon.com, Inc | -0.11 | 0.01 | 0.12 | 60 | Consumer Cyclical | |
| Roku, Inc. | -0.06 | 0.09 | 0.13 | 78 | Communication Services | |
| Alphabet Inc. Class A | -0.06 | 0.06 | 0.15 | 96 | Communication Services |
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