Looking to balance out your exposure to SMPNY? The ETFs below have the lowest correlation with SMPNY — they tend to move on their own, which can help reduce risk when SMPNY drops. The stock ideas table highlights individual companies that behave independently from SMPNY.
Best Diversifiers for SMPNY
2 ETFs have low correlation with SMPNY (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 0.24, roughly unchanged from 0.23 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.24 | 0.27 | 0.23 | 70 | S&P 500 | SMPNY vs VOO | |
| ProShares UltraPro S&P 500 | 0.24 | 0.27 | 0.23 | 62 | Leveraged Equities, S&P 500 | SMPNY vs UPRO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SMPNY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SMPNY and solid risk/return profiles. The least correlated is Triton International Ltd (TRTN-PB) (Industrials) with a 1Y correlation of -0.01, roughly unchanged from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Triton International Ltd | -0.01 | 0.05 | 0.05 | 90 | Industrials | |
| Triton International Ltd | 0.04 | -0.02 | 0.02 | 81 | Industrials | |
| American Electric Power Company, Inc. | 0.13 | 0.07 | 0.07 | 79 | Utilities | |
| Smithfield Foods, Inc | 0.15 | 0.13 | 0.13 | 57 | Consumer Defensive | |
| Universal Technical Institute, Inc. | 0.16 | 0.14 | 0.12 | 55 | Consumer Defensive |
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