Looking to balance out your exposure to ZBH? The ETFs below have the lowest correlation with ZBH — they tend to move on their own, which can help reduce risk when ZBH drops. The stock ideas table highlights individual companies that behave independently from ZBH.
Best Diversifiers for ZBH
5 ETFs have low correlation with ZBH (below 0.3), 0 of which are negatively correlated. The least correlated is State Street Technology Select Sector SPDR ETF (XLK) (Technology Equities) with a 1Y correlation of 0.01, down from 0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Technology Select Sector SPDR ETF | 0.01 | 0.12 | 0.28 | 83 | Technology Equities | ZBH vs XLK | |
| iShares Global Clean Energy ETF | 0.09 | 0.23 | 0.29 | 87 | Alternative Energy Equities | ZBH vs ICLN | |
| Global X Lithium & Battery Tech ETF | 0.13 | 0.21 | 0.25 | 94 | Commodity Producers Equities | ZBH vs LIT | |
| Vanguard S&P 500 ETF | 0.18 | 0.29 | 0.43 | 70 | S&P 500 | ZBH vs VOO | |
| State Street SPDR S&P 500 ETF | 0.19 | 0.29 | 0.43 | 70 | S&P 500 | ZBH vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ZBH, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ZBH and solid risk/return profiles. The least correlated is Lam Research Corporation (LRCX) (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 |
|---|---|---|---|---|---|---|
| Lam Research Corporation | 0.07 | 0.09 | 0.20 | 98 | Technology | |
| Shoals Technologies Group, Inc. | 0.07 | 0.17 | 0.20 | 83 | Technology | |
| Viavi Solutions Inc. | 0.07 | 0.16 | 0.27 | 99 | Technology | |
| Huntington Ingalls Industries, Inc | 0.08 | 0.25 | 0.27 | 62 | Industrials | |
| Teradyne, Inc. | 0.09 | 0.16 | 0.26 | 98 | Technology |
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