Looking to diversify beyond SPXS? The ETFs below have the lowest correlation with SPXS — 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 SPXS.
Best Diversifiers for SPXS
1566 ETFs have low correlation with SPXS (below 0.3), 1510 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 -1.00, 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 | -1.00 | -1.00 | -1.00 | 53 | Leveraged Equities, S&P 500 | SPXS vs SPXL | |
| ProShares UltraPro S&P 500 | -1.00 | -1.00 | -1.00 | 52 | Leveraged Equities, S&P 500 | SPXS vs UPRO | |
| State Street SPDR S&P 500 ETF | -1.00 | -1.00 | -1.00 | 66 | S&P 500 | SPXS vs SPY | |
| ProShares Ultra S&P500 | -1.00 | -1.00 | -1.00 | 55 | Leveraged Equities, S&P 500 | SPXS vs SSO | |
| State Street SPDR Portfolio S&P 500 ETF | -1.00 | -1.00 | -1.00 | 67 | S&P 500 | SPXS vs SPYM |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SPXS, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SPXS and solid risk/return profiles. The least correlated is The Goldman Sachs Group, Inc. (GS) (Financial Services) with a 1Y correlation of -0.66, roughly unchanged from -0.67 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Goldman Sachs Group, Inc. | -0.66 | -0.64 | -0.67 | 90 | Financial Services | |
| Lam Research Corporation | -0.64 | -0.65 | -0.69 | 97 | Technology | |
| Morgan Stanley | -0.62 | -0.59 | -0.65 | 91 | Financial Services | |
| Interactive Brokers Group, Inc. | -0.62 | -0.47 | -0.51 | 85 | Financial Services | |
| Taiwan Semiconductor Manufacturing Company Limited | -0.61 | -0.62 | -0.62 | 92 | Technology |
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