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), 7 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of -0.11, down from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | -0.11 | 0.11 | 0.21 | 61 | Nasdaq-100 | TRP vs QQQ | |
| Goldman Sachs Nasdaq-100 Core Premium Income ETF | -0.11 | — | — | 73 | Nasdaq-100, Dividend | TRP vs GPIQ | |
| State Street Technology Select Sector SPDR ETF | -0.10 | 0.09 | 0.20 | 66 | Technology Equities | TRP vs XLK | |
| JPMorgan Nasdaq Equity Premium Income ETF | -0.10 | 0.11 | — | 68 | Nasdaq-100, Derivative Income | TRP vs JEPQ | |
| State Street SPDR S&P 500 ETF | -0.05 | 0.20 | 0.32 | 66 | S&P 500 | TRP vs SPY |
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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 -0.13, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Bio-Rad Laboratories, Inc. | -0.13 | 0.06 | 0.14 | 61 | Healthcare | |
| Amazon.com, Inc | -0.13 | 0.01 | 0.11 | 54 | Consumer Cyclical | |
| Teladoc Health, Inc. | -0.11 | 0.09 | 0.17 | 52 | Healthcare | |
| Tesla, Inc. | -0.11 | 0.07 | 0.14 | 62 | Consumer Cyclical | |
| Alphabet Inc. Class A | -0.10 | 0.04 | 0.15 | 96 | Communication Services |
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Build a portfolio that complements TRP
Add TRP to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
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