Looking to balance out your exposure to SNX? The ETFs below have the lowest correlation with SNX — they tend to move on their own, which can help reduce risk when SNX drops. The stock ideas table highlights individual companies that behave independently from SNX.
Best Diversifiers for SNX
0 ETFs have low correlation with SNX (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.55, roughly unchanged from 0.54 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.55 | 0.47 | 0.54 | 73 | Nasdaq-100 | SNX vs QQQ | |
| VanEck Semiconductor ETF | 0.56 | 0.49 | 0.57 | 96 | Semiconductors, Technology Equities | SNX vs SMH | |
| Vanguard S&P 500 ETF | 0.61 | 0.55 | 0.64 | 70 | S&P 500 | SNX vs VOO | |
| State Street SPDR S&P 500 ETF | 0.61 | 0.55 | 0.64 | 70 | S&P 500 | SNX vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SNX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SNX and solid risk/return profiles. The least correlated is Red Cat Holdings, Inc. (RCAT) (Technology) with a 1Y correlation of 0.27, roughly unchanged from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Red Cat Holdings, Inc. | 0.27 | 0.19 | 0.20 | 69 | Technology | |
| Uranium Energy Corp. | 0.36 | 0.28 | 0.35 | 79 | Energy | |
| Micron Technology, Inc. | 0.36 | 0.39 | 0.45 | 99 | Technology | |
| AAR Corp. | 0.39 | 0.40 | 0.45 | 84 | Industrials | |
| Carnival Corporation & Plc | 0.40 | 0.39 | 0.46 | 73 | Consumer Cyclical |
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