Looking to balance out your exposure to SNPS? The ETFs below have historically moved differently from SNPS, 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 SNPS
90 ETFs have low correlation with SNPS (below 0.3), 23 of which are negatively correlated. The least correlated is United States Oil Fund LP (USO) (Oil & Gas) with a 1Y correlation of -0.12, down from 0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.12 | -0.02 | 0.02 | 55 | Oil & Gas | SNPS vs USO | |
| Global X MLP & Energy Infrastructure ETF | -0.11 | 0.10 | 0.18 | 74 | Infrastructure Equities, MLPs | SNPS vs MLPX | |
| iShares Core High Dividend ETF | -0.10 | 0.04 | 0.20 | 92 | Dividend, Large Cap Value Equities | SNPS vs HDV | |
| Alerian MLP ETF | -0.08 | 0.14 | 0.20 | 66 | MLPs | SNPS vs AMLP | |
| Franklin U.S. Low Volatility High Dividend Index E... | -0.08 | 0.04 | 0.17 | 61 | Dividend, Low Volatility | SNPS vs LVHD |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for SNPS, 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 The Coca-Cola Company (KO) (Consumer Defensive) with a 1Y correlation of -0.29, down from 0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Coca-Cola Company | -0.29 | -0.12 | 0.03 | 90 | Consumer Defensive | |
| Altria Group, Inc. | -0.28 | -0.16 | -0.07 | 66 | Consumer Defensive | |
| Duke Energy Corporation | -0.26 | -0.19 | -0.07 | 56 | Utilities | |
| Colgate-Palmolive Company | -0.23 | -0.09 | 0.00 | 59 | Consumer Defensive | |
| Enbridge Inc. | -0.22 | 0.00 | 0.11 | 85 | Energy |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements SNPS
Add SNPS to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with SNPS