Looking to balance out your exposure to SKYW? The ETFs below have the lowest correlation with SKYW — they tend to move on their own, which can help reduce risk when SKYW drops. The stock ideas table highlights individual companies that behave independently from SKYW.
Best Diversifiers for SKYW
0 ETFs have low correlation with SKYW (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco NASDAQ 100 ETF (QQQM) (Nasdaq-100) with a 1Y correlation of 0.46, roughly unchanged from 0.46 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco NASDAQ 100 ETF | 0.46 | 0.46 | 0.46 | 75 | Nasdaq-100 | SKYW vs QQQM | |
| JPMorgan Nasdaq Equity Premium Income ETF | 0.47 | 0.46 | 0.49 | 76 | Nasdaq-100, Derivative Income | SKYW vs JEPQ | |
| State Street SPDR S&P 500 ETF | 0.55 | 0.53 | 0.53 | 74 | S&P 500 | SKYW vs SPY | |
| NEOS S&P 500 High Income ETF | 0.56 | 0.52 | — | 75 | Derivative Income, S&P 500 | SKYW vs SPYI | |
| Vanguard S&P Mid-Cap 400 Growth ETF | 0.61 | 0.59 | 0.59 | 58 | Small Cap Growth Equities | SKYW vs IVOG |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SKYW, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SKYW and solid risk/return profiles. The least correlated is Exxon Mobil Corporation (XOM) (Energy) with a 1Y correlation of -0.15, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | -0.15 | -0.03 | 0.11 | 86 | Energy | |
| Chevron Corporation | -0.12 | 0.03 | 0.15 | 84 | Energy | |
| Valero Energy Corporation | -0.10 | 0.04 | 0.15 | 94 | Energy | |
| Palo Alto Networks, Inc. | 0.00 | 0.19 | 0.23 | 69 | Technology | |
| International Seaways, Inc. | 0.00 | 0.10 | 0.15 | 95 | Energy |
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