Looking to balance out your exposure to SMHI? The ETFs below have the lowest correlation with SMHI — they tend to move on their own, which can help reduce risk when SMHI drops. The stock ideas table highlights individual companies that behave independently from SMHI.
Best Diversifiers for SMHI
6 ETFs have low correlation with SMHI (below 0.3), 0 of which are negatively correlated. The least correlated is ProShares Ultra Semiconductors (USD) (Leveraged Equities) with a 1Y correlation of 0.06, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Ultra Semiconductors | 0.06 | 0.17 | 0.17 | 78 | Leveraged Equities, Semiconductors | SMHI vs USD | |
| iShares Semiconductor ETF | 0.07 | 0.20 | 0.19 | 94 | Semiconductors, Technology Equities | SMHI vs SOXX | |
| VanEck Semiconductor ETF | 0.08 | 0.20 | 0.19 | 94 | Semiconductors, Technology Equities | SMHI vs SMH | |
| Invesco NASDAQ 100 ETF | 0.10 | 0.19 | 0.18 | 64 | Nasdaq-100 | SMHI vs QQQM | |
| iShares Core S&P 500 ETF | 0.14 | 0.24 | 0.24 | 67 | S&P 500 | SMHI vs IVV |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SMHI, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SMHI and solid risk/return profiles. The least correlated is Core Natural Resources, Inc (CNR) (Energy) with a 1Y correlation of 0.12, down from 0.26 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Core Natural Resources, Inc | 0.12 | 0.25 | 0.26 | 55 | Energy | |
| Nutrien Ltd. | 0.15 | 0.25 | 0.29 | 55 | Basic Materials | |
| Pampa Energía S.A. | 0.15 | 0.20 | 0.24 | 58 | Utilities | |
| Loma Negra Compañía Industrial Argentina Sociedad ... | 0.18 | 0.21 | 0.20 | 51 | Basic Materials | |
| YPF Sociedad Anónima | 0.19 | 0.25 | 0.29 | 74 | Energy |
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