Looking to balance out your exposure to SLNO? The ETFs below have the lowest correlation with SLNO — they tend to move on their own, which can help reduce risk when SLNO drops. The stock ideas table highlights individual companies that behave independently from SLNO.
Best Diversifiers for SLNO
1 ETFs have low correlation with SLNO (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.18, roughly unchanged from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.18 | 0.27 | 0.25 | 70 | S&P 500 | SLNO vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SLNO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SLNO and solid risk/return profiles. The least correlated is Advanced Drainage Systems, Inc. (WMS) (Industrials) with a 1Y correlation of -0.02, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Advanced Drainage Systems, Inc. | -0.02 | 0.13 | 0.16 | 57 | Industrials | |
| Willis Lease Finance Corporation | -0.01 | 0.14 | 0.10 | 57 | Industrials | |
| Fortress Transportation and Infrastructure Investo... | 0.07 | 0.16 | 0.17 | 82 | Industrials | |
| Super Group (SGHC) Limited | 0.09 | 0.18 | 0.17 | 70 | Consumer Cyclical | |
| UnitedHealth Group Incorporated | 0.11 | 0.08 | 0.07 | 61 | Healthcare |
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