Looking to balance out your exposure to SNDL? The ETFs below have the lowest correlation with SNDL — they tend to move on their own, which can help reduce risk when SNDL drops. The stock ideas table highlights individual companies that behave independently from SNDL.
Best Diversifiers for SNDL
3 ETFs have low correlation with SNDL (below 0.3), 0 of which are negatively correlated. The least correlated is VanEck Semiconductor ETF (SMH) (Semiconductors) with a 1Y correlation of 0.21, down from 0.33 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| VanEck Semiconductor ETF | 0.21 | 0.24 | 0.33 | 96 | Semiconductors, Technology Equities | SNDL vs SMH | |
| Saba Closed-End Funds ETF | 0.22 | 0.28 | 0.31 | 80 | Event Driven | SNDL vs CEFS | |
| NEOS Nasdaq-100 High Income ETF | 0.26 | 0.27 | 0.27 | 68 | Nasdaq-100, Derivative Income | SNDL vs QQQI | |
| State Street SPDR S&P 500 ETF | 0.30 | 0.33 | 0.40 | 70 | S&P 500 | SNDL vs SPY | |
| Bridges Capital Tactical ETF | 0.32 | 0.29 | — | 74 | Large Cap Blend Equities | SNDL vs BDGS |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SNDL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SNDL and solid risk/return profiles. The least correlated is NXP Semiconductors N.V. (NXPI) (Technology) with a 1Y correlation of 0.18, down from 0.31 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NXP Semiconductors N.V. | 0.18 | 0.27 | 0.31 | 80 | Technology | |
| NIO Inc. | 0.20 | 0.29 | 0.39 | 67 | Consumer Cyclical | |
| Orchid Island Capital, Inc. | 0.22 | 0.31 | 0.31 | 61 | Real Estate | |
| Apple Inc | 0.23 | 0.21 | 0.29 | 89 | Technology | |
| Wayfair Inc. | 0.23 | 0.34 | 0.39 | 67 | Consumer Cyclical |
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