Looking to balance out your exposure to XRAY? The ETFs below have the lowest correlation with XRAY — they tend to move on their own, which can help reduce risk when XRAY drops. The stock ideas table highlights individual companies that behave independently from XRAY.
Best Diversifiers for XRAY
0 ETFs have low correlation with XRAY (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.46, roughly unchanged from 0.49 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.46 | 0.42 | 0.49 | 70 | S&P 500 | XRAY vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from XRAY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to XRAY and solid risk/return profiles. The least correlated is Orchid Island Capital, Inc. (ORC) (Real Estate) with a 1Y correlation of 0.37, roughly unchanged from 0.38 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Orchid Island Capital, Inc. | 0.37 | 0.36 | 0.38 | 61 | Real Estate | |
| West Pharmaceutical Services, Inc. | 0.40 | 0.35 | 0.40 | 76 | Healthcare | |
| Ford Motor Company | 0.41 | 0.39 | 0.42 | 82 | Consumer Cyclical |
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