Looking to balance out your exposure to SRAD? The ETFs below have the lowest correlation with SRAD — they tend to move on their own, which can help reduce risk when SRAD drops. The stock ideas table highlights individual companies that behave independently from SRAD.
Best Diversifiers for SRAD
1 ETFs have low correlation with SRAD (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 0.23, down from 0.36 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.23 | 0.36 | — | 63 | S&P 500 | SRAD vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SRAD, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SRAD and solid risk/return profiles. The least correlated is MasTec, Inc. (MTZ) (Industrials) with a 1Y correlation of 0.07, down from 0.31 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| MasTec, Inc. | 0.07 | 0.28 | 0.31 | 95 | Industrials | |
| SSR Mining Inc. | 0.08 | 0.18 | 0.13 | 87 | Basic Materials | |
| Alphabet Inc. Class A | 0.09 | 0.18 | — | 96 | Communication Services | |
| Celestica Inc. | 0.13 | 0.23 | 0.27 | 88 | Technology | |
| FIGS, Inc. | 0.14 | 0.23 | 0.31 | 82 | Consumer Cyclical |
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