Looking to balance out your exposure to SLB? The ETFs below have the lowest correlation with SLB — they tend to move on their own, which can help reduce risk when SLB drops. The stock ideas table highlights individual companies that behave independently from SLB.
Best Diversifiers for SLB
10 ETFs have low correlation with SLB (below 0.3), 2 of which are negatively correlated. The least correlated is SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) (Government Bonds) with a 1Y correlation of -0.09, roughly unchanged from -0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.09 | 0.01 | -0.03 | 100 | Government Bonds, Ultrashort Bond | SLB vs BIL | |
| iShares 0-1 Year Treasury Bond ETF | -0.04 | -0.01 | -0.04 | 100 | Government Bonds, Ultrashort Bond | SLB vs SHV | |
| JPMorgan Ultra-Short Income ETF | 0.05 | 0.04 | -0.01 | 99 | Ultrashort Bond | SLB vs JPST | |
| iShares 0-5 Year TIPS Bond ETF | 0.09 | 0.07 | 0.11 | 91 | Inflation-Protected Bonds | SLB vs STIP | |
| State Street Health Care Select Sector SPDR ETF | 0.17 | 0.18 | 0.18 | 51 | Health & Biotech Equities | SLB vs XLV |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SLB, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SLB and solid risk/return profiles. The least correlated is Palo Alto Networks, Inc. (PANW) (Technology) with a 1Y correlation of -0.03, down from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Palo Alto Networks, Inc. | -0.03 | 0.06 | 0.07 | 84 | Technology | |
| HCA Healthcare, Inc. | -0.02 | 0.11 | 0.18 | 52 | Healthcare | |
| Okta, Inc. | 0.00 | 0.12 | 0.11 | 69 | Technology | |
| eBay Inc. | 0.01 | 0.14 | 0.17 | 81 | Consumer Cyclical | |
| Monster Beverage Corporation | 0.01 | 0.08 | 0.08 | 90 | Consumer Defensive |
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