Looking to balance out your exposure to SMP? The ETFs below have the lowest correlation with SMP — they tend to move on their own, which can help reduce risk when SMP drops. The stock ideas table highlights individual companies that behave independently from SMP.
Best Diversifiers for SMP
1 ETFs have low correlation with SMP (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.23, roughly unchanged from 0.32 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.23 | 0.25 | 0.32 | 73 | Nasdaq-100 | SMP vs QQQ | |
| Vanguard S&P 500 ETF | 0.34 | 0.36 | 0.42 | 70 | S&P 500 | SMP vs VOO | |
| State Street SPDR S&P 500 ETF | 0.34 | 0.36 | 0.42 | 70 | S&P 500 | SMP vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SMP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SMP and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of 0.01, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | 0.01 | 0.06 | 0.17 | 78 | Technology | |
| Chevron Corporation | 0.02 | 0.20 | 0.24 | 83 | Energy | |
| Verizon Communications Inc. | 0.10 | 0.14 | 0.19 | 59 | Communication Services | |
| The Coca-Cola Company | 0.13 | 0.16 | 0.23 | 66 | Consumer Defensive | |
| Amazon.com, Inc | 0.16 | 0.16 | 0.22 | 60 | Consumer Cyclical |
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