Looking to balance out your exposure to XLO? The ETFs below have the lowest correlation with XLO — they tend to move on their own, which can help reduce risk when XLO drops. The stock ideas table highlights individual companies that behave independently from XLO.
Best Diversifiers for XLO
2 ETFs have low correlation with XLO (below 0.3), 0 of which are negatively correlated. The least correlated is First Trust Nasdaq Clean Edge Smart GRID Infrastructure Index (GRID) (Alternative Energy Equities) with a 1Y correlation of 0.18, roughly unchanged from 0.13 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| First Trust Nasdaq Clean Edge Smart GRID Infrastru... | 0.18 | 0.13 | — | 79 | Alternative Energy Equities | XLO vs GRID | |
| State Street Technology Select Sector SPDR ETF | 0.25 | 0.11 | — | 83 | Technology Equities | XLO vs XLK | |
| Unusual Whales Subversive Democratic Trading ETF | 0.32 | 0.17 | — | 51 | Large Cap Blend Equities | XLO vs NANC |
Diversification Analysis
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