Looking to diversify beyond CAPE? The ETFs below have the lowest correlation with CAPE — 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 CAPE.
Best Diversifiers for CAPE
401 ETFs have low correlation with CAPE (below 0.3), 24 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.35, down from -0.14 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.35 | -0.14 | — | 63 | Leveraged Currency | CAPE vs YCS | |
| United States Gasoline Fund LP | -0.25 | -0.08 | 0.03 | 55 | Oil & Gas | CAPE vs UGA | |
| Direxion Daily NFLX Bear 1X Shares | -0.19 | -0.25 | -0.25 | 55 | Inverse Equities | CAPE vs NFXS | |
| F/m Ultrashort Treasury Inflation-Protected Securi... | -0.17 | — | — | 97 | Inflation-Protected Bonds | CAPE vs RBIL | |
| First Trust Alternative Absolute Return Strategy E... | -0.12 | -0.02 | — | 75 | Commodities | CAPE vs FAAR |
See all 1950 diversifiers for CAPE
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