Looking to diversify beyond SLVP? The ETFs below have the lowest correlation with SLVP — 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 SLVP.
Best Diversifiers for SLVP
663 ETFs have low correlation with SLVP (below 0.3), 46 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.20, roughly unchanged from -0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.20 | -0.20 | -0.27 | 63 | Leveraged Currency | SLVP vs YCS | |
| United States Oil Fund LP | -0.16 | 0.04 | 0.13 | 66 | Oil & Gas | SLVP vs USO | |
| United States Brent Oil Fund LP | -0.16 | 0.04 | 0.13 | 65 | Oil & Gas | SLVP vs BNO | |
| Invesco DB Energy Fund | -0.15 | 0.03 | 0.13 | 71 | Oil & Gas | SLVP vs DBE | |
| Defiance Oil Enhanced Options Income ETF | -0.15 | — | — | 56 | Derivative Income | SLVP vs USOY |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SLVP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SLVP and solid risk/return profiles. The least correlated is ConocoPhillips Company (COP) (Energy) with a 1Y correlation of -0.09, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ConocoPhillips Company | -0.09 | 0.06 | 0.18 | 76 | Energy | |
| Energy Transfer LP | -0.08 | 0.13 | 0.21 | 73 | Energy | |
| Exxon Mobil Corporation | -0.06 | 0.10 | 0.20 | 85 | Energy | |
| Enterprise Products Partners L.P. | -0.05 | 0.12 | 0.22 | 86 | Energy | |
| Altria Group, Inc. | -0.05 | 0.05 | 0.13 | 67 | Consumer Defensive |
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