Looking to diversify beyond SOXL? The ETFs below have historically moved differently from SOXL, 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 SOXL
470 ETFs have low correlation with SOXL (below 0.3), 99 of which are negatively correlated. The least correlated is ProShares Short Bitcoin ETF (BITI) (Cryptocurrency) with a 1Y correlation of -0.44, down from -0.32 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.44 | -0.32 | — | 60 | Cryptocurrency | SOXL vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.43 | — | — | 55 | Cryptocurrency, Leveraged Cryptocurrency | SOXL vs SBIT | |
| Invesco KBW Property & Casualty Insurance ETF | -0.40 | -0.11 | 0.09 | 51 | Financials Equities | SOXL vs KBWP | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.38 | — | — | 60 | Inverse Equities, Leveraged Equities | SOXL vs MSTZ | |
| YieldMax MSTR Short Option Income Strategy ETF | -0.35 | — | — | 74 | Derivative Income | SOXL vs WNTR |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for SOXL, 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 Arch Capital Group Ltd. (ACGL) (Financial Services) with a 1Y correlation of -0.39, down from 0.05 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Arch Capital Group Ltd. | -0.39 | -0.13 | 0.05 | 74 | Financial Services | |
| Altria Group, Inc. | -0.35 | -0.19 | -0.07 | 82 | Consumer Defensive | |
| W. R. Berkley Corporation | -0.33 | -0.13 | 0.04 | 63 | Financial Services | |
| Chubb Limited | -0.33 | -0.11 | 0.04 | 91 | Financial Services | |
| Duke Energy Corporation | -0.32 | -0.22 | -0.11 | 67 | Utilities |
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