Looking to balance out your exposure to SONO? The ETFs below have historically moved differently from SONO, 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 SONO
2 ETFs have low correlation with SONO (below 0.3), 0 of which are negatively correlated. The least correlated is JPMorgan Ultra-Short Income ETF (JPST) (Ultrashort Bond) with a 1Y correlation of 0.12, roughly unchanged from 0.14 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| JPMorgan Ultra-Short Income ETF | 0.12 | 0.11 | 0.14 | 99 | Ultrashort Bond | SONO vs JPST | |
| iShares U.S. Healthcare ETF | 0.16 | 0.26 | 0.34 | 70 | Health & Biotech Equities | SONO vs IYH | |
| Vanguard FTSE Developed Markets ETF | 0.31 | 0.39 | 0.46 | 75 | Foreign Large Cap Equities | SONO vs VEA | |
| Vanguard Total International Stock ETF | 0.31 | 0.39 | 0.46 | 71 | Global Equities | SONO vs VXUS | |
| Vanguard FTSE All-World ex-US ETF | 0.31 | 0.39 | 0.46 | 73 | Foreign Large Cap Equities | SONO vs VEU |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for SONO, 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 -0.12, down from 0.05 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Coca-Cola Company | -0.12 | -0.04 | 0.05 | 90 | Consumer Defensive | |
| Advanced Micro Devices, Inc. | 0.15 | 0.24 | 0.35 | 94 | Technology | |
| Glencore PLC ADR | 0.15 | 0.22 | 0.24 | 94 | Basic Materials | |
| TKO Group Holdings Inc. | 0.20 | 0.19 | 0.19 | 54 | Communication Services | |
| Taiwan Semiconductor Manufacturing Company Limited | 0.21 | 0.27 | 0.36 | 87 | Technology |
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