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I own a particular security. How can I find another security, which has uncorrelated or negatively correlated (anti correlated) returns with the one I already own? I would like both securities to have positive historic returns.

For example: TLT has a negative correlation with SPY.

EDIT: http://www.market-topology.com/correlation/ is actually very close to what I was looking for. However, it doesn't have certain preferred stocks. It looks like the correlation is computed based on the last 12 months.

Lance
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1 Answers1

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Have a look at: Diversify Portfolio. The site provides various tools all focused on correlation, diversification and portfolio construction.

You can scan through every stock and ETF listed on the NASDAQ and NYSE to find any kind of correlation you're looking for. You can also create a portfolio and then analyze all the correlations within it, or search for specific stocks that can be added to the portfolio based on correlation and various other factors.

darkpool
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