Looking to balance out your exposure to TSCO? The ETFs below have the lowest correlation with TSCO — they tend to move on their own, which can help reduce risk when TSCO drops. The stock ideas table highlights individual companies that behave independently from TSCO.
Best Diversifiers for TSCO
13 ETFs have low correlation with TSCO (below 0.3), 1 of which are negatively correlated. The least correlated is Direxion Daily Technology Bull 3X Shares (TECL) (Leveraged Equities) with a 1Y correlation of -0.01, down from 0.30 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Direxion Daily Technology Bull 3X Shares | -0.01 | 0.16 | 0.31 | 64 | Leveraged Equities, Technology Equities | TSCO vs TECL | |
| Invesco QQQ ETF | 0.08 | 0.20 | 0.34 | 59 | Nasdaq-100 | TSCO vs QQQ | |
| NEOS Nasdaq-100 High Income ETF | 0.09 | — | — | 54 | Nasdaq-100, Derivative Income | TSCO vs QQQI | |
| Direxion Daily AAPL Bull 2X Shares | 0.15 | 0.19 | — | 61 | Leveraged Equities | TSCO vs AAPU | |
| Vanguard S&P 500 ETF | 0.19 | 0.31 | 0.41 | 60 | S&P 500 | TSCO vs VOO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from TSCO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to TSCO and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of -0.07, down from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | -0.07 | 0.04 | 0.20 | 70 | Technology | |
| Advanced Micro Devices, Inc. | -0.05 | 0.10 | 0.21 | 96 | Technology | |
| Everpure, Inc. | -0.02 | 0.10 | 0.22 | 60 | Technology | |
| Tesla, Inc. | -0.01 | 0.10 | 0.19 | 50 | Consumer Cyclical | |
| AppLovin Corporation | -0.00 | 0.07 | 0.19 | 58 | Communication Services |
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