Looking to diversify beyond SPSK? The ETFs below have historically moved differently from SPSK, 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 SPSK
947 ETFs have low correlation with SPSK (below 0.3), 92 of which are negatively correlated. The least correlated is Invesco DB Energy Fund (DBE) (Oil & Gas) with a 1Y correlation of -0.35, down from -0.06 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Energy Fund | -0.35 | -0.11 | -0.06 | 72 | Oil & Gas | SPSK vs DBE | |
| United States Brent Oil Fund LP | -0.35 | -0.12 | -0.08 | 52 | Oil & Gas | SPSK vs BNO | |
| Invesco DB Oil Fund | -0.35 | -0.11 | -0.06 | 58 | Oil & Gas | SPSK vs DBO | |
| United States Oil Fund LP | -0.34 | -0.12 | -0.07 | 55 | Oil & Gas | SPSK vs USO | |
| United States Gasoline Fund LP | -0.32 | -0.09 | -0.06 | 87 | Oil & Gas | SPSK vs UGA |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for SPSK, 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 Exxon Mobil Corporation (XOM) (Energy) with a 1Y correlation of -0.27, down from -0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | -0.27 | -0.09 | -0.04 | 84 | Energy | |
| Welltower Inc. | 0.04 | 0.08 | 0.11 | 89 | Real Estate | |
| NVIDIA Corporation | 0.04 | 0.06 | 0.07 | 56 | Technology | |
| Micron Technology, Inc. | 0.06 | 0.06 | 0.06 | 99 | Technology | |
| AbbVie Inc. | 0.07 | 0.06 | 0.02 | 81 | Healthcare |
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