Looking to balance out your exposure to SKX? The ETFs below have the lowest correlation with SKX — they tend to move on their own, which can help reduce risk when SKX drops. The stock ideas table highlights individual companies that behave independently from SKX.
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 0.03, down from 0.51 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.03 | 0.40 | 0.51 | 60 | S&P 500 | SKX vs VOO | |
| State Street SPDR S&P 500 ETF | 0.04 | 0.40 | 0.51 | 60 | S&P 500 | SKX vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SKX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SKX and solid risk/return profiles. The least correlated is Merck & Co., Inc. (MRK) (Healthcare) with a 1Y correlation of -0.08, roughly unchanged from 0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Merck & Co., Inc. | -0.08 | 0.02 | 0.02 | 90 | Healthcare | |
| Snap-on Incorporated | -0.07 | 0.24 | 0.37 | 83 | Industrials | |
| GlaxoSmithKline plc | -0.07 | 0.12 | 0.15 | 77 | Healthcare | |
| Freeport-McMoRan Inc. | -0.06 | 0.29 | 0.37 | 72 | Basic Materials | |
| Chevron Corporation | -0.06 | 0.09 | 0.19 | 70 | Energy |
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