Looking to diversify beyond SLQD? The ETFs below have the lowest correlation with SLQD — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from SLQD.
Best Diversifiers for SLQD
794 ETFs have low correlation with SLQD (below 0.3), 77 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.52, roughly unchanged from -0.50 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.52 | -0.50 | -0.50 | 61 | Leveraged Currency | SLQD vs YCS | |
| Invesco DB Oil Fund | -0.41 | -0.18 | -0.11 | 65 | Oil & Gas | SLQD vs DBO | |
| United States Brent Oil Fund LP | -0.40 | -0.19 | -0.11 | 65 | Oil & Gas | SLQD vs BNO | |
| Defiance Oil Enhanced Options Income ETF | -0.40 | -0.25 | -0.25 | 56 | Derivative Income | SLQD vs USOY | |
| Invesco DB Energy Fund | -0.39 | -0.18 | -0.10 | 71 | Oil & Gas | SLQD vs DBE |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SLQD, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SLQD and solid risk/return profiles. The least correlated is Energy Transfer LP (ET) (Energy) with a 1Y correlation of -0.20, down from 0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Energy Transfer LP | -0.20 | 0.01 | 0.02 | 69 | Energy | |
| Enterprise Products Partners L.P. | -0.14 | 0.05 | 0.05 | 85 | Energy | |
| Bank of America Corporation | 0.11 | 0.10 | 0.09 | 64 | Financial Services |
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