Looking to balance out your exposure to SKM? The ETFs below have the lowest correlation with SKM — they tend to move on their own, which can help reduce risk when SKM drops. The stock ideas table highlights individual companies that behave independently from SKM.
Best Diversifiers for SKM
2 ETFs have low correlation with SKM (below 0.3), 0 of which are negatively correlated. The least correlated is Schwab U.S. Dividend Equity ETF (SCHD) (Dividend) with a 1Y correlation of 0.18, down from 0.32 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Schwab U.S. Dividend Equity ETF | 0.18 | 0.26 | 0.32 | 85 | Dividend | SKM vs SCHD | |
| State Street SPDR S&P 500 ETF | 0.22 | 0.25 | 0.31 | 74 | S&P 500 | SKM vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SKM, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SKM and solid risk/return profiles. The least correlated is Red Cat Holdings, Inc. (RCAT) (Technology) with a 1Y correlation of 0.04, roughly unchanged from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Red Cat Holdings, Inc. | 0.04 | 0.03 | 0.09 | 67 | Technology | |
| BlackBerry Limited | 0.06 | 0.13 | 0.24 | 91 | Technology | |
| Vistance Networks, Inc | 0.08 | 0.11 | 0.18 | 99 | Technology | |
| Alphabet Inc. Class A | 0.09 | 0.13 | 0.22 | 96 | Communication Services | |
| Cadence Design Systems, Inc. | 0.09 | 0.14 | 0.21 | 69 | Technology |
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