Looking to balance out your exposure to SMHI? The ETFs below have historically moved differently from SMHI, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
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 0.08, roughly unchanged from 0.18 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Ultra Semiconductors | 0.08 | 0.17 | 0.18 | 58 | Leveraged Equities, Semiconductors | SMHI vs USD | |
| iShares Semiconductor ETF | 0.10 | 0.20 | 0.20 | 90 | Semiconductors, Technology Equities | SMHI vs SOXX | |
| VanEck Semiconductor ETF | 0.10 | 0.20 | 0.19 | 88 | Semiconductors, Technology Equities | SMHI vs SMH | |
| Invesco NASDAQ 100 ETF | 0.12 | 0.19 | 0.18 | 59 | Nasdaq-100 | SMHI vs QQQM | |
| Vanguard S&P 500 ETF | 0.14 | 0.24 | 0.24 | 78 | S&P 500 | SMHI vs VOO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for SMHI, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Core Natural Resources, Inc (CNR) (Energy) with a 1Y correlation of 0.14, down from 0.26 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Core Natural Resources, Inc | 0.14 | 0.25 | 0.26 | 51 | Energy | |
| Nutrien Ltd. | 0.17 | 0.25 | 0.29 | 59 | Basic Materials | |
| Pampa Energía S.A. | 0.18 | 0.19 | 0.23 | 57 | Utilities | |
| Range Resources Corporation | 0.19 | 0.29 | 0.31 | 57 | Energy | |
| Teekay Tankers Ltd. | 0.19 | 0.28 | 0.26 | 93 | Energy |
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