Looking to balance out your exposure to STLD? The ETFs below have the lowest correlation with STLD — they tend to move on their own, which can help reduce risk when STLD drops. The stock ideas table highlights individual companies that behave independently from STLD.
Best Diversifiers for STLD
0 ETFs have low correlation with STLD (below 0.3), 0 of which are negatively correlated. The least correlated is VanEck Semiconductor ETF (SMH) (Semiconductors) with a 1Y correlation of 0.38, roughly unchanged from 0.40 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| VanEck Semiconductor ETF | 0.38 | 0.37 | 0.40 | 92 | Semiconductors, Technology Equities | STLD vs SMH | |
| Vanguard S&P 500 ETF | 0.39 | 0.41 | 0.46 | 66 | S&P 500 | STLD vs VOO | |
| Vanguard Total Stock Market ETF | 0.41 | 0.44 | 0.48 | 66 | Large Cap Blend Equities | STLD vs VTI | |
| iShares Semiconductor ETF | 0.42 | 0.40 | 0.42 | 93 | Semiconductors, Technology Equities | STLD vs SOXX | |
| Invesco S&P 500 Equal Weight ETF | 0.44 | 0.48 | 0.53 | 58 | S&P 500, Equal Weight | STLD vs RSP |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from STLD, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to STLD and solid risk/return profiles. The least correlated is Waste Management, Inc. (WM) (Industrials) with a 1Y correlation of -0.15, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Waste Management, Inc. | -0.15 | 0.00 | 0.11 | 53 | Industrials | |
| Altria Group, Inc. | -0.09 | -0.01 | 0.13 | 81 | Consumer Defensive | |
| Cheniere Energy, Inc. | -0.07 | 0.13 | 0.24 | 58 | Energy | |
| Walmart Inc. | -0.06 | 0.03 | 0.13 | 71 | Consumer Defensive | |
| AppLovin Corporation | -0.06 | 0.13 | 0.18 | 60 | Communication Services |
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