Looking to balance out your exposure to SKWD? The ETFs below have the lowest correlation with SKWD — they tend to move on their own, which can help reduce risk when SKWD drops. The stock ideas table highlights individual companies that behave independently from SKWD.
Best Diversifiers for SKWD
8 ETFs have low correlation with SKWD (below 0.3), 2 of which are negatively correlated. The least correlated is iShares MSCI South Korea ETF (EWY) (Asia Pacific Equities) with a 1Y correlation of -0.11, down from 0.02 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares MSCI South Korea ETF | -0.11 | 0.02 | — | 93 | Asia Pacific Equities | SKWD vs EWY | |
| ProShares Ultra Technology | -0.03 | 0.09 | — | 63 | Leveraged Equities | SKWD vs ROM | |
| ProShares Ultra Nasdaq Biotechnology | 0.06 | 0.11 | — | 83 | Leveraged Equities | SKWD vs BIB | |
| Invesco QQQ ETF | 0.06 | 0.13 | — | 59 | Nasdaq-100 | SKWD vs QQQ | |
| iShares 1-3 Year Treasury Bond ETF | 0.11 | 0.02 | -0.01 | 77 | Government Bonds, Short-Term Bond | SKWD vs SHY |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SKWD, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SKWD and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of -0.05, down from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | -0.05 | 0.03 | 0.06 | 70 | Technology | |
| Eli Lilly and Company | -0.02 | 0.05 | 0.06 | 75 | Healthcare | |
| Kinross Gold Corporation | -0.02 | 0.06 | 0.05 | 71 | Basic Materials | |
| Taiwan Semiconductor Manufacturing Company Limited | -0.02 | 0.01 | 0.03 | 93 | Technology | |
| Broadcom Inc. | -0.01 | 0.05 | — | 71 | Technology |
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