Looking to balance out your exposure to SMP? The ETFs below have historically moved differently from SMP, 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 SMP
2 ETFs have low correlation with SMP (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 ETF (VOO) (S&P 500) with a 1Y correlation of 0.27, down from 0.41 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.27 | 0.36 | 0.41 | 68 | S&P 500 | SMP vs VOO | |
| State Street SPDR S&P 500 ETF | 0.29 | 0.36 | 0.41 | 67 | S&P 500 | SMP vs SPY |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for SMP, 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 Chevron Corporation (CVX) (Energy) with a 1Y correlation of -0.04, down from 0.21 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chevron Corporation | -0.04 | 0.16 | 0.21 | 80 | Energy | |
| NVIDIA Corporation | -0.01 | 0.06 | 0.14 | 56 | Technology | |
| Nutex Health Inc | 0.03 | 0.08 | 0.08 | 71 | Healthcare | |
| JPMorgan Chase & Co. | 0.09 | 0.23 | 0.30 | 71 | Financial Services | |
| The Coca-Cola Company | 0.13 | 0.15 | 0.23 | 90 | Consumer Defensive |
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