Looking to balance out your exposure to SCLX? The ETFs below have the lowest correlation with SCLX — they tend to move on their own, which can help reduce risk when SCLX drops. The stock ideas table highlights individual companies that behave independently from SCLX.
Best Diversifiers for SCLX
1 ETFs have low correlation with SCLX (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 ETF (VOO) (S&P 500) with a 1Y correlation of 0.28, up from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.28 | 0.21 | 0.16 | 70 | S&P 500 | SCLX vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SCLX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SCLX and solid risk/return profiles. The least correlated is Johnson & Johnson (JNJ) (Healthcare) with a 1Y correlation of -0.04, roughly unchanged from 0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Johnson & Johnson | -0.04 | 0.04 | 0.02 | 92 | Healthcare | |
| Novartis AG | 0.02 | 0.03 | 0.00 | 75 | Healthcare | |
| GlaxoSmithKline plc | 0.06 | 0.08 | 0.06 | 68 | Healthcare | |
| Gilead Sciences, Inc. | 0.06 | 0.08 | 0.05 | 63 | Healthcare | |
| Bristol-Myers Squibb Company | 0.07 | 0.11 | 0.09 | 63 | Healthcare |
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