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
7 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 0.09, roughly unchanged from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Ultra Semiconductors | 0.09 | 0.17 | 0.17 | 89 | Leveraged Equities, Semiconductors | SMHI vs USD | |
| iShares Semiconductor ETF | 0.12 | 0.20 | 0.20 | 96 | Semiconductors, Technology Equities | SMHI vs SOXX | |
| VanEck Semiconductor ETF | 0.12 | 0.20 | 0.19 | 96 | Semiconductors, Technology Equities | SMHI vs SMH | |
| Invesco NASDAQ 100 ETF | 0.15 | 0.19 | 0.18 | 75 | Nasdaq-100 | SMHI vs QQQM | |
| iShares Silver Trust | 0.19 | 0.23 | 0.23 | 51 | Silver, Precious Metals | SMHI vs SLV |
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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 Nutrien Ltd. (NTR) (Basic Materials) with a 1Y correlation of 0.12, down from 0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Nutrien Ltd. | 0.12 | 0.25 | 0.29 | 59 | Basic Materials | |
| Core Natural Resources, Inc | 0.13 | 0.25 | 0.26 | 68 | Energy | |
| Pampa Energía S.A. | 0.18 | 0.20 | 0.23 | 54 | Utilities | |
| Sibanye Stillwater Limited | 0.21 | 0.25 | 0.23 | 74 | Basic Materials | |
| YPF Sociedad Anónima | 0.22 | 0.25 | 0.29 | 75 | Energy |
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