Looking to balance out your exposure to SPLP? The ETFs below have the lowest correlation with SPLP — they tend to move on their own, which can help reduce risk when SPLP drops. The stock ideas table highlights individual companies that behave independently from SPLP.
Best Diversifiers for SPLP
1 ETFs have low correlation with SPLP (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.02, roughly unchanged from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.02 | 0.06 | 0.12 | 74 | S&P 500 | SPLP vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SPLP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SPLP and solid risk/return profiles. The least correlated is Griffon Corporation (GFF) (Industrials) with a 1Y correlation of 0.01, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Griffon Corporation | 0.01 | 0.06 | 0.13 | 61 | Industrials |
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