Looking to balance out your exposure to SCCO? The ETFs below have the lowest correlation with SCCO — they tend to move on their own, which can help reduce risk when SCCO drops. The stock ideas table highlights individual companies that behave independently from SCCO.
Best Diversifiers for SCCO
5 ETFs have low correlation with SCCO (below 0.3), 1 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.11, roughly unchanged from -0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.11 | -0.03 | -0.01 | 100 | Ultrashort Bond | SCCO vs SGOV | |
| Panagram BBB-B CLO ETF | 0.15 | 0.13 | — | 57 | CLO | SCCO vs CLOZ | |
| iShares 1-3 Year Treasury Bond ETF | 0.21 | 0.10 | 0.08 | 83 | Government Bonds, Short-Term Bond | SCCO vs SHY | |
| First Trust Global Tactical Commodity Strategy Fun... | 0.21 | 0.33 | 0.41 | 74 | Commodities | SCCO vs FTGC | |
| Schwab U.S. Dividend Equity ETF | 0.24 | 0.31 | 0.40 | 86 | Dividend | SCCO vs SCHD |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SCCO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SCCO and solid risk/return profiles. The least correlated is Waste Management, Inc. (WM) (Industrials) with a 1Y correlation of -0.19, down from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Waste Management, Inc. | -0.19 | -0.08 | 0.04 | 53 | Industrials | |
| Altria Group, Inc. | -0.15 | -0.05 | 0.08 | 81 | Consumer Defensive | |
| Exxon Mobil Corporation | -0.05 | 0.14 | 0.29 | 75 | Energy | |
| The Coca-Cola Company | -0.04 | -0.00 | 0.08 | 83 | Consumer Defensive | |
| Western Midstream Partners, LP | -0.04 | 0.14 | 0.26 | 80 | Energy |
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