Looking to diversify beyond SCO? The ETFs below have historically moved differently from SCO, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for SCO
1534 ETFs have low correlation with SCO (below 0.3), 147 of which are negatively correlated. The least correlated is Invesco DB Oil Fund (DBO) (Oil & Gas) with a 1Y correlation of -0.98, roughly unchanged from -0.98 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Oil Fund | -0.98 | -0.98 | -0.98 | 58 | Oil & Gas | SCO vs DBO | |
| Invesco DB Energy Fund | -0.96 | -0.96 | -0.96 | 72 | Oil & Gas | SCO vs DBE | |
| United States Brent Oil Fund LP | -0.96 | -0.97 | -0.98 | 52 | Oil & Gas | SCO vs BNO | |
| United States Oil Fund LP | -0.96 | -0.97 | -0.98 | 55 | Oil & Gas | SCO vs USO | |
| iShares GSCI Commodity Dynamic Roll Strategy ETF | -0.92 | -0.93 | -0.94 | 58 | Commodities | SCO vs COMT |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for SCO, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Advanced Micro Devices, Inc. (AMD) (Technology) with a 1Y correlation of 0.03, roughly unchanged from -0.06 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Advanced Micro Devices, Inc. | 0.03 | -0.04 | -0.06 | 94 | Technology | |
| NVIDIA Corporation | 0.04 | -0.02 | -0.07 | 56 | Technology | |
| American Electric Power Company, Inc. | 0.04 | 0.05 | 0.00 | 72 | Utilities | |
| Intel Corporation | 0.07 | -0.03 | -0.08 | 98 | Technology | |
| Merck & Co., Inc. | 0.10 | 0.07 | 0.00 | 96 | Healthcare |
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