Looking to diversify beyond SKYY? The ETFs below have the lowest correlation with SKYY — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from SKYY.
Best Diversifiers for SKYY
537 ETFs have low correlation with SKYY (below 0.3), 58 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T-REX 2X Inverse MSTR Daily Target ETF | -0.41 | — | — | 60 | Inverse Equities, Leveraged Equities | SKYY vs MSTZ | |
| Direxion Daily MU Bull 2X Shares | -0.37 | -0.37 | -0.37 | 99 | Leveraged Equities, Semiconductors | SKYY vs MUU | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.37 | — | — | 65 | Derivative Income | SKYY vs WNTR | |
| iShares Core High Dividend ETF | -0.18 | 0.07 | 0.25 | 72 | Dividend, Large Cap Value Equities | SKYY vs HDV | |
| Tortoise North American Pipeline Fund | -0.15 | 0.16 | 0.27 | 77 | Energy Equities | SKYY vs TPYP |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SKYY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SKYY and solid risk/return profiles. The least correlated is Verizon Communications Inc. (VZ) (Communication Services) with a 1Y correlation of -0.27, down from -0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Verizon Communications Inc. | -0.27 | -0.12 | -0.01 | 54 | Communication Services | |
| Walmart Inc. | -0.20 | 0.05 | 0.16 | 70 | Consumer Defensive | |
| MPLX LP | -0.10 | 0.14 | 0.23 | 82 | Energy | |
| NextEra Energy, Inc. | -0.09 | 0.00 | 0.17 | 72 | Utilities | |
| Enterprise Products Partners L.P. | -0.08 | 0.13 | 0.22 | 83 | Energy |
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