Looking to balance out your exposure to SKY? The ETFs below have the lowest correlation with SKY — they tend to move on their own, which can help reduce risk when SKY drops. The stock ideas table highlights individual companies that behave independently from SKY.
Best Diversifiers for SKY
1 ETFs have low correlation with SKY (below 0.3), 0 of which are negatively correlated. The least correlated is ProShares UltraPro QQQ (TQQQ) (Leveraged Equities) with a 1Y correlation of 0.28, down from 0.48 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraPro QQQ | 0.28 | 0.37 | 0.48 | 71 | Leveraged Equities | SKY vs TQQQ | |
| Vanguard S&P 500 ETF | 0.39 | 0.48 | 0.56 | 70 | S&P 500 | SKY vs VOO | |
| State Street SPDR S&P 500 ETF | 0.39 | 0.48 | 0.56 | 70 | S&P 500 | SKY vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SKY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SKY and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of -0.01, down from 0.33 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | -0.01 | 0.14 | 0.33 | 78 | Technology | |
| Advanced Micro Devices, Inc. | 0.10 | 0.21 | 0.34 | 98 | Technology | |
| Broadcom Inc. | 0.10 | 0.22 | 0.34 | 84 | Technology | |
| Applied Digital Corporation | 0.12 | 0.18 | 0.18 | 92 | Financial Services | |
| Comfort Systems USA, Inc. | 0.18 | 0.36 | 0.44 | 98 | Industrials |
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