Looking to balance out your exposure to SDRL? The ETFs below have the lowest correlation with SDRL — they tend to move on their own, which can help reduce risk when SDRL drops. The stock ideas table highlights individual companies that behave independently from SDRL.
Best Diversifiers for SDRL
1 ETFs have low correlation with SDRL (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.10, roughly unchanged from 0.19 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.10 | 0.19 | — | 73 | Nasdaq-100 | SDRL vs QQQ |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SDRL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SDRL and solid risk/return profiles. The least correlated is BridgeBio Pharma, Inc. (BBIO) (Healthcare) with a 1Y correlation of 0.04, roughly unchanged from 0.13 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| BridgeBio Pharma, Inc. | 0.04 | 0.13 | — | 82 | Healthcare | |
| Solaris Energy Infrastructure, Inc | 0.18 | 0.36 | — | 89 | Energy | |
| National Energy Services Reunited Corp. | 0.32 | 0.26 | 0.27 | 98 | Energy | |
| Exxon Mobil Corporation | 0.48 | 0.47 | 0.49 | 85 | Energy | |
| Liberty Oilfield Services Inc. | 0.50 | 0.50 | 0.49 | 91 | Energy |
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