Looking to balance out your exposure to SMPNY? The ETFs below have historically moved differently from SMPNY, 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 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 0.23, roughly unchanged from 0.22 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 | 0.23 | 0.27 | 0.22 | 72 | S&P 500 | SMPNY vs VOO | |
| ProShares UltraPro S&P 500 | 0.23 | 0.27 | 0.22 | 59 | Leveraged Equities, S&P 500 | SMPNY vs UPRO |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for SMPNY, 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 American Electric Power Company, Inc. (AEP) (Utilities) with a 1Y correlation of -0.01, roughly unchanged from 0.06 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| American Electric Power Company, Inc. | -0.01 | 0.04 | 0.06 | 69 | Utilities | |
| Triton International Ltd | 0.01 | 0.06 | 0.05 | 82 | Industrials | |
| Triton International Ltd | 0.04 | -0.01 | 0.02 | 80 | Industrials | |
| Church & Dwight Co., Inc. | 0.05 | 0.03 | 0.05 | 60 | Consumer Defensive | |
| Universal Technical Institute, Inc. | 0.10 | 0.14 | 0.12 | 62 | Consumer Defensive |
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