Looking to balance out your exposure to SIMO? The ETFs below have the lowest correlation with SIMO — they tend to move on their own, which can help reduce risk when SIMO drops. The stock ideas table highlights individual companies that behave independently from SIMO.
Best Diversifiers for SIMO
2 ETFs have low correlation with SIMO (below 0.3), 0 of which are negatively correlated. The least correlated is Breakwave Tanker Shipping ETF (BWET) (Commodities) with a 1Y correlation of 0.03, roughly unchanged from 0.02 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Breakwave Tanker Shipping ETF | 0.03 | 0.02 | — | 99 | Commodities | SIMO vs BWET | |
| GraniteShares 2x Long DELL Daily ETF | 0.27 | — | — | 94 | Leveraged Equities | SIMO vs DLLL | |
| Direxion Daily MU Bull 2X Shares | 0.44 | 0.49 | 0.49 | 98 | Leveraged Equities, Semiconductors | SIMO vs MUU | |
| GraniteShares 2x Long INTC Daily ETF | 0.48 | — | — | 96 | Leveraged Equities | SIMO vs INTW | |
| iShares MSCI South Korea ETF | 0.48 | 0.43 | 0.42 | 87 | South Korea Equities, Asia Pacific Equities | SIMO vs EWY |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SIMO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SIMO and solid risk/return profiles. The least correlated is Chubb Limited (CB) (Financial Services) with a 1Y correlation of -0.31, down from 0.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chubb Limited | -0.31 | -0.11 | 0.00 | 82 | Financial Services | |
| W. R. Berkley Corporation | -0.29 | -0.11 | -0.01 | 52 | Financial Services | |
| Altria Group, Inc. | -0.22 | -0.12 | -0.06 | 80 | Consumer Defensive | |
| Chemed Corporation | -0.13 | 0.02 | 0.11 | 54 | Healthcare | |
| WD-40 Company | -0.13 | 0.01 | 0.05 | 60 | Basic Materials |
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Build a portfolio that complements SIMO
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