Looking to balance out your exposure to SLRC? The ETFs below have the lowest correlation with SLRC — they tend to move on their own, which can help reduce risk when SLRC drops. The stock ideas table highlights individual companies that behave independently from SLRC.
Best Diversifiers for SLRC
1 ETFs have low correlation with SLRC (below 0.3), 0 of which are negatively correlated. The least correlated is Schwab U.S. Dividend Equity ETF (SCHD) (Dividend) with a 1Y correlation of 0.27, down from 0.46 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Schwab U.S. Dividend Equity ETF | 0.27 | 0.41 | 0.46 | 80 | Dividend | SLRC vs SCHD | |
| Global X NASDAQ 100 Covered Call ETF | 0.31 | 0.30 | 0.36 | 88 | Nasdaq-100, Derivative Income | SLRC vs QYLD | |
| JPMorgan Nasdaq Equity Premium Income ETF | 0.32 | 0.32 | — | 74 | Nasdaq-100, Derivative Income | SLRC vs JEPQ | |
| State Street SPDR S&P 500 ETF | 0.39 | 0.41 | 0.46 | 70 | S&P 500 | SLRC vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SLRC, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SLRC and solid risk/return profiles. The least correlated is Energy Transfer LP (ET) (Energy) with a 1Y correlation of 0.03, down from 0.32 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Energy Transfer LP | 0.03 | 0.25 | 0.32 | 69 | Energy | |
| Petróleo Brasileiro S.A. - Petrobras | 0.07 | 0.20 | 0.20 | 86 | Energy | |
| TORM plc | 0.12 | 0.15 | 0.20 | 88 | Energy | |
| Dynex Capital, Inc. | 0.31 | 0.42 | 0.44 | 74 | Real Estate | |
| Eaton Vance Tax-Managed Buy-Write Opportunities Fu... | 0.37 | 0.37 | 0.39 | 79 | Financial Services |
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