Looking to diversify beyond SLX? The ETFs below have the lowest correlation with SLX — 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 SLX.
Best Diversifiers for SLX
217 ETFs have low correlation with SLX (below 0.3), 25 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.27, down from -0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.27 | -0.14 | -0.09 | 61 | Leveraged Currency | SLX vs YCS | |
| Texas Capital Government Money Market ETF | -0.16 | — | — | 100 | Money Market | SLX vs MMKT | |
| iShares iBonds Oct 2026 Term TIPS ETF | -0.15 | 0.03 | 0.03 | 98 | Inflation-Protected Bonds | SLX vs IBIC | |
| Vanguard Ultra-Short Treasury ETF | -0.14 | — | — | 99 | Ultrashort Bond, Government Bonds | SLX vs VGUS | |
| iShares 0-3 Month Treasury Bond ETF | -0.13 | -0.05 | -0.03 | 100 | Ultrashort Bond | SLX vs SGOV |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SLX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SLX and solid risk/return profiles. The least correlated is CVS Health Corporation (CVS) (Healthcare) with a 1Y correlation of 0.14, down from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| CVS Health Corporation | 0.14 | 0.19 | 0.25 | 85 | Healthcare | |
| Cisco Systems, Inc. | 0.20 | 0.31 | 0.35 | 94 | Technology | |
| Halliburton Company | 0.25 | 0.39 | 0.50 | 84 | Energy | |
| Baker Hughes Company | 0.34 | 0.43 | 0.49 | 83 | Energy | |
| First Solar, Inc. | 0.36 | 0.36 | 0.36 | 78 | Technology |
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