Looking to balance out your exposure to SLM? The ETFs below have the lowest correlation with SLM — they tend to move on their own, which can help reduce risk when SLM drops. The stock ideas table highlights individual companies that behave independently from SLM.
Best Diversifiers for SLM
2 ETFs have low correlation with SLM (below 0.3), 0 of which are negatively correlated. The least correlated is ProShares Ultra Semiconductors (USD) (Leveraged Equities) with a 1Y correlation of 0.09, down from 0.35 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Ultra Semiconductors | 0.09 | 0.21 | 0.35 | 84 | Leveraged Equities, Semiconductors | SLM vs USD | |
| Invesco NASDAQ 100 ETF | 0.21 | 0.31 | 0.42 | 64 | Nasdaq-100 | SLM vs QQQM | |
| Vanguard S&P 500 ETF | 0.33 | 0.42 | 0.52 | 63 | S&P 500 | SLM vs VOO | |
| State Street SPDR S&P 500 ETF | 0.33 | 0.43 | 0.52 | 63 | S&P 500 | SLM vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SLM, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SLM and solid risk/return profiles. The least correlated is Walmart Inc. (WMT) (Consumer Defensive) with a 1Y correlation of -0.02, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Walmart Inc. | -0.02 | 0.11 | 0.19 | 68 | Consumer Defensive | |
| Credo Technology Group Holding Ltd | -0.01 | 0.17 | 0.24 | 87 | Technology | |
| Archer-Daniels-Midland Company | 0.00 | 0.14 | 0.25 | 88 | Consumer Defensive | |
| Verizon Communications Inc. | 0.01 | 0.09 | 0.13 | 66 | Communication Services | |
| Lockheed Martin Corporation | 0.01 | 0.02 | 0.10 | 56 | Industrials |
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