Looking to balance out your exposure to SPNS? The ETFs below have the lowest correlation with SPNS — they tend to move on their own, which can help reduce risk when SPNS drops. The stock ideas table highlights individual companies that behave independently from SPNS.
Best Diversifiers for SPNS
1 ETFs have low correlation with SPNS (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 ETF (VOO) (S&P 500) with a 1Y correlation of 0.16, down from 0.52 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.16 | 0.44 | 0.52 | 70 | S&P 500 | SPNS vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SPNS, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SPNS and solid risk/return profiles. The least correlated is The Williams Companies, Inc. (WMB) (Energy) with a 1Y correlation of -0.07, down from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Williams Companies, Inc. | -0.07 | 0.11 | 0.21 | 66 | Energy | |
| Dell Technologies Inc. | -0.03 | 0.24 | 0.32 | 96 | Technology | |
| Cadence Design Systems, Inc. | 0.06 | 0.33 | 0.42 | 68 | Technology | |
| ON Semiconductor Corporation | 0.08 | 0.31 | 0.41 | 93 | Technology | |
| Skyworks Solutions, Inc. | 0.10 | 0.36 | 0.43 | 52 | Technology |
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