Looking to balance out your exposure to DKS? The ETFs below have the lowest correlation with DKS — they tend to move on their own, which can help reduce risk when DKS drops. The stock ideas table highlights individual companies that behave independently from DKS.
Best Diversifiers for DKS
0 ETFs have low correlation with DKS (below 0.3), 0 of which are negatively correlated. The least correlated is Schwab U.S. Dividend Equity ETF (SCHD) (Dividend) with a 1Y correlation of 0.37, roughly unchanged from 0.45 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Schwab U.S. Dividend Equity ETF | 0.37 | 0.41 | 0.45 | 77 | Dividend | DKS vs SCHD | |
| Vanguard S&P 500 ETF | 0.40 | 0.46 | 0.50 | 59 | S&P 500 | DKS vs VOO | |
| State Street SPDR S&P 500 ETF | 0.41 | 0.46 | 0.50 | 59 | S&P 500 | DKS vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from DKS, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to DKS and solid risk/return profiles. The least correlated is AbbVie Inc. (ABBV) (Healthcare) with a 1Y correlation of 0.04, roughly unchanged from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AbbVie Inc. | 0.04 | 0.09 | 0.11 | 75 | Healthcare | |
| Eli Lilly and Company | 0.04 | 0.13 | 0.15 | 74 | Healthcare | |
| Walmart Inc. | 0.04 | 0.12 | 0.18 | 69 | Consumer Defensive | |
| Lockheed Martin Corporation | 0.05 | 0.01 | 0.07 | 51 | Industrials | |
| Casey's General Stores, Inc. | 0.08 | 0.16 | 0.23 | 91 | Consumer Defensive |
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