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
430 ETFs have low correlation with SKYY (below 0.3), 38 of which are negatively correlated. The least correlated is iShares Core High Dividend ETF (HDV) (Dividend) with a 1Y correlation of -0.16, down from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Core High Dividend ETF | -0.16 | 0.09 | 0.25 | 64 | Dividend, Large Cap Value Equities | SKYY vs HDV | |
| iShares Enhanced Short-Term Bond Active ETF | -0.12 | — | — | 99 | Ultrashort Bond | SKYY vs CSHP | |
| Breakwave Tanker Shipping ETF | -0.10 | -0.02 | — | 98 | Commodities | SKYY vs BWET | |
| Tortoise North American Pipeline Fund | -0.09 | 0.18 | 0.28 | 55 | Energy Equities | SKYY vs TPYP | |
| Brookstone Ultra-Short Bond ETF | -0.09 | 0.01 | 0.01 | 98 | Ultrashort Bond | SKYY vs BAMU |
To view more results, upgrade your current subscription plan.
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 -0.23, down from -0.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Verizon Communications Inc. | -0.23 | -0.11 | -0.00 | 63 | Communication Services | |
| Walmart Inc. | -0.20 | 0.06 | 0.16 | 69 | Consumer Defensive | |
| Enterprise Products Partners L.P. | -0.04 | 0.15 | 0.22 | 82 | Energy | |
| Bristol-Myers Squibb Company | -0.01 | 0.01 | 0.07 | 68 | Healthcare | |
| Alamos Gold Inc. | 0.18 | 0.17 | 0.17 | 55 | Basic Materials |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements SKYY
Add SKYY to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with SKYY