Looking to diversify beyond SLQD? The ETFs below have historically moved differently from SLQD, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for SLQD
597 ETFs have low correlation with SLQD (below 0.3), 99 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.48, roughly unchanged from -0.50 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.48 | -0.50 | -0.50 | 56 | Leveraged Currency | SLQD vs YCS | |
| Invesco DB Oil Fund | -0.42 | -0.21 | -0.11 | 58 | Oil & Gas | SLQD vs DBO | |
| United States Brent Oil Fund LP | -0.42 | -0.21 | -0.12 | 52 | Oil & Gas | SLQD vs BNO | |
| Invesco DB Energy Fund | -0.41 | -0.21 | -0.11 | 72 | Oil & Gas | SLQD vs DBE | |
| United States Oil Fund LP | -0.41 | -0.21 | -0.12 | 55 | Oil & Gas | SLQD vs USO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for SLQD, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Energy Transfer LP (ET) (Energy) with a 1Y correlation of -0.19, down from 0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Energy Transfer LP | -0.19 | -0.01 | 0.02 | 81 | Energy | |
| Enterprise Products Partners L.P. | -0.15 | 0.02 | 0.04 | 89 | Energy | |
| Bank of America Corporation | 0.16 | 0.11 | 0.10 | 81 | Financial Services | |
| Lincoln National Corporation | 0.22 | 0.11 | 0.10 | 65 | Financial Services |
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