Looking to balance out your exposure to VECO? The ETFs below have the lowest correlation with VECO — they tend to move on their own, which can help reduce risk when VECO drops. The stock ideas table highlights individual companies that behave independently from VECO.
Best Diversifiers for VECO
0 ETFs have low correlation with VECO (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 ETF (VOO) (S&P 500) with a 1Y correlation of 0.51, roughly unchanged from 0.60 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.51 | 0.56 | 0.60 | 66 | S&P 500 | VECO vs VOO | |
| State Street SPDR S&P 500 ETF | 0.51 | 0.57 | 0.60 | 65 | S&P 500 | VECO vs SPY | |
| Invesco QQQ ETF | 0.55 | 0.61 | 0.63 | 53 | Nasdaq-100 | VECO vs QQQ |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from VECO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to VECO and solid risk/return profiles. The least correlated is Babcock & Wilcox Enterprises, Inc. (BW) (Industrials) with a 1Y correlation of 0.23, down from 0.36 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Babcock & Wilcox Enterprises, Inc. | 0.23 | 0.29 | 0.36 | 98 | Industrials | |
| AXT, Inc. | 0.26 | 0.34 | 0.42 | 99 | Technology | |
| Applied Optoelectronics, Inc. | 0.35 | 0.37 | 0.39 | 89 | Technology | |
| Lumentum Holdings Inc. | 0.36 | 0.42 | 0.47 | 98 | Technology | |
| Cadence Design Systems, Inc. | 0.38 | 0.50 | 0.51 | 57 | Technology |
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