Looking to balance out your exposure to SNPS? The ETFs below have the lowest correlation with SNPS — they tend to move on their own, which can help reduce risk when SNPS drops. The stock ideas table highlights individual companies that behave independently from SNPS.
Best Diversifiers for SNPS
69 ETFs have low correlation with SNPS (below 0.3), 11 of which are negatively correlated. The least correlated is United States Oil Fund LP (USO) (Oil & Gas) with a 1Y correlation of -0.10, down from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.10 | -0.01 | 0.03 | 66 | Oil & Gas | SNPS vs USO | |
| ProShares Ultra Bloomberg Crude Oil | -0.07 | 0.01 | 0.04 | 54 | Leveraged Commodities | SNPS vs UCO | |
| Vanguard Short-Term Inflation-Protected Securities... | -0.06 | 0.02 | 0.09 | 93 | Inflation-Protected Bonds | SNPS vs VTIP | |
| Invesco DB Commodity Index Tracking Fund | -0.06 | 0.05 | 0.08 | 75 | Commodities | SNPS vs DBC | |
| Invesco Optimum Yield Diversified Commodity Strate... | -0.03 | 0.06 | 0.09 | 74 | Commodities | SNPS vs PDBC |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SNPS, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SNPS and solid risk/return profiles. The least correlated is The Coca-Cola Company (KO) (Consumer Defensive) with a 1Y correlation of -0.22, down from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Coca-Cola Company | -0.22 | -0.12 | 0.04 | 66 | Consumer Defensive | |
| Altria Group, Inc. | -0.21 | -0.14 | -0.05 | 69 | Consumer Defensive | |
| Duke Energy Corporation | -0.17 | -0.18 | -0.06 | 53 | Utilities | |
| Walmart Inc. | -0.11 | 0.06 | 0.14 | 63 | Consumer Defensive | |
| PepsiCo, Inc. | -0.11 | -0.04 | 0.10 | 56 | Consumer Defensive |
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