Looking to diversify beyond SKYY? The ETFs below have historically moved differently from SKYY, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for SKYY
678 ETFs have low correlation with SKYY (below 0.3), 98 of which are negatively correlated.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| YieldMax MSTR Short Option Income Strategy ETF | -0.38 | — | — | 69 | Derivative Income | SKYY vs WNTR | |
| ProShares Short Bitcoin ETF | -0.37 | -0.32 | — | 51 | Cryptocurrency | SKYY vs BITI | |
| iShares Core High Dividend ETF | -0.19 | 0.07 | 0.24 | 91 | Dividend, Large Cap Value Equities | SKYY vs HDV | |
| YieldMax XOM Option Income Strategy ETF | -0.16 | -0.02 | -0.02 | 52 | Derivative Income, Dividend | SKYY vs XOMO | |
| Tortoise North American Pipeline Fund | -0.16 | 0.15 | 0.26 | 75 | Energy Equities | SKYY vs TPYP |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for SKYY, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Verizon Communications Inc. (VZ) (Communication Services) with a 1Y correlation of -0.23, down from -0.00 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Verizon Communications Inc. | -0.23 | -0.12 | -0.00 | 66 | Communication Services | |
| Walmart Inc. | -0.18 | 0.06 | 0.16 | 60 | Consumer Defensive | |
| MPLX LP | -0.11 | 0.11 | 0.19 | 82 | Energy | |
| Cheniere Energy, Inc. | -0.08 | 0.07 | 0.16 | 53 | Energy | |
| NextEra Energy, Inc. | -0.07 | 0.01 | 0.15 | 77 | Utilities |
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