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The S&P 500 index is regarded as the barometer of U.S. stock market performance. Composed of large-cap U.S. equities, the S&P 500 index is often used as a benchmark for professional and retail investors to compete against. When it comes to funds, the SPDR S&P 500 ETF (NYSEARCA: SPY) is the largest and most liquid exchange-traded fund (ETF) for tracking the S&P 500. Here are the best defensive stocks with low correlation to SPY.
One investment strategy with the potential to outperform over long periods is buying stocks that have a low correlation coefficient to SPY. This metric is primarily measured by the stock's beta, which also incorp