Looking to diversify beyond CARZ? The ETFs below have historically moved differently from CARZ, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for CARZ
524 ETFs have low correlation with CARZ (below 0.3), 90 of which are negatively correlated. The least correlated is ProShares Short Bitcoin ETF (BITI) (Cryptocurrency) with a 1Y correlation of -0.49, down from -0.39 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.49 | -0.39 | — | 51 | Cryptocurrency | CARZ vs BITI | |
| YieldMax MSTR Short Option Income Strategy ETF | -0.44 | — | — | 69 | Derivative Income | CARZ vs WNTR | |
| iShares U.S. Insurance ETF | -0.24 | 0.00 | 0.22 | 54 | Financials Equities | CARZ vs IAK | |
| Invesco DB Energy Fund | -0.20 | -0.01 | 0.09 | 66 | Oil & Gas | CARZ vs DBE | |
| FolioBeyond Alternative Income and Interest Rate H... | -0.19 | -0.11 | -0.07 | 51 | Nontraditional Bonds | CARZ vs RISR |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CARZ, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Ally Financial Inc. (ALLY) (Financial Services) with a 1Y correlation of 0.31, down from 0.50 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Ally Financial Inc. | 0.31 | 0.40 | 0.50 | 66 | Financial Services | |
| General Motors Company | 0.37 | 0.42 | 0.54 | 92 | Consumer Cyclical |
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