Looking to diversify beyond SPDN? The ETFs below have the lowest correlation with SPDN — 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 SPDN.
Best Diversifiers for SPDN
1588 ETFs have low correlation with SPDN (below 0.3), 1515 of which are negatively correlated. The least correlated is Direxion Daily S&P 500 Bull 3X ETF (SPXL) (Leveraged Equities) with a 1Y correlation of -0.99, roughly unchanged from -1.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Direxion Daily S&P 500 Bull 3X ETF | -0.99 | -0.99 | -1.00 | 63 | Leveraged Equities, S&P 500 | SPDN vs SPXL | |
| ProShares Ultra S&P500 | -0.99 | -0.99 | -1.00 | 62 | Leveraged Equities, S&P 500 | SPDN vs SSO | |
| ProShares UltraPro S&P 500 | -0.99 | -0.99 | -1.00 | 62 | Leveraged Equities, S&P 500 | SPDN vs UPRO | |
| Direxion Daily S&P 500 Bull 2x Shares | -0.99 | -0.99 | -0.99 | 63 | Leveraged Equities, S&P 500 | SPDN vs SPUU | |
| Vanguard S&P 500 ETF | -0.99 | -0.99 | -1.00 | 70 | S&P 500 | SPDN vs VOO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SPDN, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SPDN and solid risk/return profiles. The least correlated is Lam Research Corporation (LRCX) (Technology) with a 1Y correlation of -0.65, roughly unchanged from -0.69 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Lam Research Corporation | -0.65 | -0.65 | -0.69 | 98 | Technology | |
| Applied Materials, Inc. | -0.61 | -0.64 | -0.69 | 96 | Technology | |
| Taiwan Semiconductor Manufacturing Company Limited | -0.59 | -0.61 | -0.62 | 95 | Technology | |
| NVIDIA Corporation | -0.58 | -0.62 | -0.68 | 78 | Technology | |
| Vertiv Holdings Co. | -0.57 | -0.58 | -0.61 | 94 | Industrials |
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