Looking to diversify beyond SKF? The ETFs below have historically moved differently from SKF, 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 SKF
1289 ETFs have low correlation with SKF (below 0.3), 1246 of which are negatively correlated. The least correlated is Davis Select Financial ETF (DFNL) (Financials Equities) with a 1Y correlation of -0.88, roughly unchanged from -0.92 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Davis Select Financial ETF | -0.88 | -0.90 | -0.92 | 58 | Financials Equities | SKF vs DFNL | |
| First Trust Financials AlphaDEX Fund | -0.87 | -0.89 | -0.92 | 52 | Financials Equities | SKF vs FXO | |
| iShares Global Financials ETF | -0.87 | -0.90 | -0.92 | 70 | Financials Equities | SKF vs IXG | |
| Invesco KBW Bank ETF | -0.84 | -0.86 | -0.89 | 72 | Financials Equities | SKF vs KBWB | |
| MicroSectors U.S. Big Banks Index 3X Leveraged ETN... | -0.82 | — | — | 63 | Leveraged Equities | SKF vs BNKU |
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