Looking to balance out your exposure to TXNM? The ETFs below have the lowest correlation with TXNM — they tend to move on their own, which can help reduce risk when TXNM drops. The stock ideas table highlights individual companies that behave independently from TXNM.
Best Diversifiers for TXNM
2 ETFs have low correlation with TXNM (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco S&P 500 Momentum ETF (SPMO) (Momentum) with a 1Y correlation of 0.16, roughly unchanged from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco S&P 500 Momentum ETF | 0.16 | 0.12 | 0.20 | 75 | Momentum, S&P 500 | TXNM vs SPMO | |
| Vanguard S&P 500 ETF | 0.16 | 0.20 | 0.26 | 70 | S&P 500 | TXNM vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from TXNM, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to TXNM and solid risk/return profiles. The least correlated is Applied Materials, Inc. (AMAT) (Technology) with a 1Y correlation of 0.07, roughly unchanged from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Applied Materials, Inc. | 0.07 | 0.05 | 0.11 | 96 | Technology |
Build a portfolio that complements TXNM
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