Looking to diversify beyond SPXS? The ETFs below have historically moved differently from SPXS, 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 SPXS
1775 ETFs have low correlation with SPXS (below 0.3), 1697 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.
How candidates are selected| 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 | 65 | Leveraged Equities, S&P 500 | SPXS vs SPXL | |
| ProShares UltraPro S&P 500 | -1.00 | -1.00 | -1.00 | 65 | Leveraged Equities, S&P 500 | SPXS vs UPRO | |
| State Street SPDR Portfolio S&P 500 ETF | -1.00 | -1.00 | -1.00 | 78 | S&P 500 | SPXS vs SPYM | |
| State Street SPDR S&P 500 ETF | -1.00 | -1.00 | -1.00 | 78 | S&P 500 | SPXS vs SPY | |
| ProShares Ultra S&P500 | -1.00 | -1.00 | -1.00 | 67 | Leveraged Equities, S&P 500 | SPXS vs SSO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for SPXS, 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 The Goldman Sachs Group, Inc. (GS) (Financial Services) with a 1Y correlation of -0.68, roughly unchanged from -0.67 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Goldman Sachs Group, Inc. | -0.68 | -0.65 | -0.67 | 83 | Financial Services | |
| Morgan Stanley | -0.65 | -0.60 | -0.65 | 89 | Financial Services | |
| Interactive Brokers Group, Inc. | -0.64 | -0.49 | -0.52 | 75 | Financial Services | |
| Taiwan Semiconductor Manufacturing Company Limited | -0.63 | -0.62 | -0.62 | 88 | Technology | |
| NVIDIA Corporation | -0.63 | -0.64 | -0.70 | 61 | Technology |
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