Looking to diversify beyond SOXY? The ETFs below have the lowest correlation with SOXY — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from SOXY.
Best Diversifiers for SOXY
12 ETFs have low correlation with SOXY (below 0.3), 4 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| YieldMax Short MSTR Option Income Strategy ETF | -0.33 | — | — | 65 | Derivative Income | SOXY vs WNTR | |
| Hamilton Utilities YIELD MAXIMIZER ETF | -0.12 | — | — | 72 | Derivative Income, Utilities Equities | SOXY vs UMAX.TO | |
| Hamilton Energy YIELD MAXIMIZER ETF | -0.05 | 0.06 | 0.06 | 57 | Energy Equities, Derivative Income | SOXY vs EMAX.TO | |
| Global X Enhanced Canadian Oil and Gas Equity Cove... | -0.04 | 0.07 | 0.07 | 86 | Energy Equities, Derivative Income | SOXY vs ENCL.TO | |
| Simplify Treasury Option Income ETF | 0.00 | — | — | 93 | Government Bonds, Ultrashort Bond, Derivative Income | SOXY vs BUCK |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SOXY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SOXY and solid risk/return profiles. The least correlated is Waste Management, Inc. (WM) (Industrials) with a 1Y correlation of -0.38, down from -0.23 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Waste Management, Inc. | -0.38 | -0.23 | -0.23 | 51 | Industrials | |
| Reaves Utility Income Trust | 0.47 | 0.46 | 0.46 | 75 | Financial Services | |
| Tesla, Inc. | 0.49 | — | — | 66 | Consumer Cyclical | |
| GE Vernova Inc. | 0.56 | — | — | 90 | Industrials | |
| NVIDIA Corporation | 0.59 | — | — | 69 | Technology |
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