Looking to balance out your exposure to SKX? The ETFs below have historically moved differently from SKX, 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 SKX
2 ETFs have low correlation with SKX (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 ETF (VOO) (S&P 500) with a 1Y correlation of 0.04, down from 0.51 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.04 | 0.38 | 0.51 | 78 | S&P 500 | SKX vs VOO | |
| State Street SPDR S&P 500 ETF | 0.06 | 0.38 | 0.50 | 78 | S&P 500 | SKX vs SPY |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for SKX, 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 Align Technology, Inc. (ALGN) (Healthcare) with a 1Y correlation of -0.12, down from 0.38 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Align Technology, Inc. | -0.12 | 0.27 | 0.38 | 66 | Healthcare | |
| Realty Income Corporation | -0.10 | 0.08 | 0.19 | 74 | Real Estate | |
| Gilead Sciences, Inc. | -0.09 | 0.05 | 0.13 | 64 | Healthcare | |
| Microchip Technology Incorporated | -0.08 | 0.30 | 0.41 | 56 | Technology | |
| Avery Dennison Corporation | -0.07 | 0.27 | 0.39 | 50 | Industrials |
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