Looking to balance out your exposure to SLS? The ETFs below have the lowest correlation with SLS — they tend to move on their own, which can help reduce risk when SLS drops. The stock ideas table highlights individual companies that behave independently from SLS.
Best Diversifiers for SLS
2 ETFs have low correlation with SLS (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 0.24, roughly unchanged from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.24 | 0.18 | 0.24 | 74 | S&P 500 | SLS vs SPY | |
| Vanguard S&P 500 ETF | 0.24 | 0.18 | 0.24 | 74 | S&P 500 | SLS vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SLS, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SLS and solid risk/return profiles. The least correlated is Erasca, Inc. (ERAS) (Healthcare) with a 1Y correlation of 0.04, roughly unchanged from 0.11 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Erasca, Inc. | 0.04 | 0.11 | — | 98 | Healthcare | |
| Johnson & Johnson | 0.05 | 0.05 | 0.04 | 94 | Healthcare | |
| Lumentum Holdings Inc. | 0.05 | 0.12 | 0.18 | 99 | Technology | |
| Viavi Solutions Inc. | 0.06 | 0.09 | 0.18 | 99 | Technology | |
| Fastly, Inc. | 0.07 | 0.09 | 0.21 | 83 | Technology |
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