Looking to balance out your exposure to SHAK? The ETFs below have historically moved differently from SHAK, 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 SHAK
2 ETFs have low correlation with SHAK (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.27, down from 0.48 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.27 | 0.41 | 0.48 | 67 | S&P 500 | SHAK vs SPY | |
| Vanguard S&P 500 ETF | 0.28 | 0.42 | 0.49 | 68 | S&P 500 | SHAK vs VOO |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for SHAK, 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 Exxon Mobil Corporation (XOM) (Energy) with a 1Y correlation of -0.14, down from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | -0.14 | 0.01 | 0.09 | 84 | Energy | |
| Marvell Technology, Inc. | 0.02 | 0.21 | 0.34 | 87 | Technology | |
| Fortinet, Inc. | 0.03 | 0.17 | 0.30 | 81 | Technology | |
| Universal Technical Institute, Inc. | 0.05 | 0.18 | 0.23 | 58 | Consumer Defensive | |
| Walmart Inc. | 0.07 | 0.16 | 0.17 | 62 | Consumer Defensive |
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