Looking to balance out your exposure to SLDP? The ETFs below have the lowest correlation with SLDP — they tend to move on their own, which can help reduce risk when SLDP drops. The stock ideas table highlights individual companies that behave independently from SLDP.
Best Diversifiers for SLDP
1 ETFs have low correlation with SLDP (below 0.3), 0 of which are negatively correlated. The least correlated is Pacer US Small Cap Cash Cows ETF (CALF) (Small Cap Value Equities) with a 1Y correlation of 0.29, down from 0.43 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Pacer US Small Cap Cash Cows ETF | 0.29 | 0.41 | 0.43 | 70 | Small Cap Value Equities | SLDP vs CALF | |
| VanEck Semiconductor ETF | 0.40 | 0.32 | 0.35 | 94 | Semiconductors, Technology Equities | SLDP vs SMH | |
| Vanguard S&P 500 ETF | 0.44 | 0.39 | 0.41 | 68 | S&P 500 | SLDP vs VOO | |
| First Trust NASDAQ Clean Edge Smart Grid Infrastru... | 0.45 | 0.42 | 0.44 | 61 | Alternative Energy Equities | SLDP vs GRID | |
| First Trust NASDAQ Clean Edge Green Energy Index F... | 0.60 | 0.60 | 0.59 | 59 | Alternative Energy Equities | SLDP vs QCLN |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SLDP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SLDP and solid risk/return profiles. The least correlated is Bristol-Myers Squibb Company (BMY) (Healthcare) with a 1Y correlation of -0.00, roughly unchanged from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Bristol-Myers Squibb Company | -0.00 | 0.09 | 0.09 | 73 | Healthcare | |
| AxoGen, Inc. | -0.00 | 0.19 | 0.24 | 98 | Healthcare | |
| Praxis Precision Medicines, Inc. | 0.07 | 0.18 | 0.19 | 98 | Healthcare | |
| UnitedHealth Group Incorporated | 0.08 | 0.06 | 0.08 | 76 | Healthcare | |
| Olema Pharmaceuticals, Inc. | 0.09 | 0.21 | 0.22 | 83 | Healthcare |
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