Looking to balance out your exposure to SCMWY? The ETFs below have the lowest correlation with SCMWY — they tend to move on their own, which can help reduce risk when SCMWY drops. The stock ideas table highlights individual companies that behave independently from SCMWY.
Best Diversifiers for SCMWY
2 ETFs have low correlation with SCMWY (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco S&P 500 Momentum ETF (SPMO) (Momentum) with a 1Y correlation of 0.01, roughly unchanged from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco S&P 500 Momentum ETF | 0.01 | -0.05 | 0.06 | 75 | Momentum, S&P 500 | SCMWY vs SPMO | |
| Amplify CWP Enhanced Dividend Income ETF | 0.19 | 0.13 | 0.19 | 61 | Derivative Income | SCMWY vs DIVO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SCMWY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SCMWY and solid risk/return profiles. The least correlated is JSC National Atomic Company Kazatomprom (NATKY) (Energy) with a 1Y correlation of -0.13, roughly unchanged from -0.05 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| JSC National Atomic Company Kazatomprom | -0.13 | -0.05 | — | 89 | Energy | |
| Taiwan Semiconductor Manufacturing Company Limited | -0.08 | -0.08 | -0.00 | 95 | Technology | |
| Broadcom Inc. | -0.06 | -0.08 | -0.01 | 84 | Technology | |
| Arista Networks, Inc. | -0.04 | -0.08 | 0.01 | 79 | Technology | |
| NCR Atleos Corporation | -0.03 | — | — | 84 | Technology |
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