Looking to diversify beyond ASHR? The ETFs below have the lowest correlation with ASHR — 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 ASHR.
Best Diversifiers for ASHR
633 ETFs have low correlation with ASHR (below 0.3), 75 of which are negatively correlated. The least correlated is Invesco DB US Dollar Index Bullish Fund (UUP) (Currency) with a 1Y correlation of -0.28, roughly unchanged from -0.32 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB US Dollar Index Bullish Fund | -0.28 | -0.30 | -0.32 | 51 | Currency | ASHR vs UUP | |
| ProShares Short Bitcoin ETF | -0.26 | -0.15 | -0.19 | 57 | Cryptocurrency | ASHR vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.26 | -0.20 | -0.20 | 52 | Cryptocurrency, Leveraged Cryptocurrency | ASHR vs SBIT | |
| Defiance Daily Target 2X Short MSTR ETF | -0.19 | — | — | 53 | Inverse Equities | ASHR vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.19 | — | — | 68 | Inverse Equities, Leveraged Equities | ASHR vs MSTZ |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ASHR, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ASHR and solid risk/return profiles. The least correlated is United Parcel Service, Inc. (UPS) (Industrials) with a 1Y correlation of 0.19, roughly unchanged from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| United Parcel Service, Inc. | 0.19 | 0.18 | 0.21 | 63 | Industrials | |
| Franklin Electric Co., Inc. | 0.22 | 0.19 | 0.19 | 59 | Industrials | |
| Installed Building Products, Inc. | 0.23 | 0.17 | 0.18 | 53 | Industrials | |
| China Yuchai International Limited | 0.29 | 0.17 | 0.20 | 84 | Industrials | |
| Baidu, Inc. | 0.46 | 0.53 | 0.55 | 64 | Communication Services |
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