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
81 ETFs have low correlation with SNPS (below 0.3), 18 of which are negatively correlated. The least correlated is Global X MLP & Energy Infrastructure ETF (MLPX) (MLPs) with a 1Y correlation of -0.10, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X MLP & Energy Infrastructure ETF | -0.10 | 0.11 | 0.19 | 72 | MLPs | SNPS vs MLPX | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.09 | -0.06 | -0.01 | 100 | Government Bonds, Ultrashort Bond | SNPS vs BIL | |
| Invesco DB US Dollar Index Bullish Fund | -0.08 | -0.10 | -0.17 | 51 | Currency | SNPS vs UUP | |
| Alerian MLP ETF | -0.07 | 0.13 | 0.19 | 54 | MLPs | SNPS vs AMLP | |
| iShares Core High Dividend ETF | -0.06 | 0.04 | 0.20 | 78 | Dividend, Large Cap Value Equities | SNPS vs HDV |
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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 -0.27, down from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Coca-Cola Company | -0.27 | -0.13 | 0.03 | 83 | Consumer Defensive | |
| Altria Group, Inc. | -0.24 | -0.16 | -0.06 | 81 | Consumer Defensive | |
| Duke Energy Corporation | -0.23 | -0.19 | -0.07 | 66 | Utilities | |
| Colgate-Palmolive Company | -0.22 | -0.09 | 0.00 | 53 | Consumer Defensive | |
| The Southern Company | -0.19 | -0.16 | -0.02 | 58 | Utilities |
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Build a portfolio that complements SNPS
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