Looking to diversify beyond CARZ? The ETFs below have the lowest correlation with CARZ — 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 CARZ.
Best Diversifiers for CARZ
439 ETFs have low correlation with CARZ (below 0.3), 68 of which are negatively correlated. The least correlated is ProShares Short Bitcoin ETF (BITI) (Cryptocurrency) with a 1Y correlation of -0.48, roughly unchanged from -0.40 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.48 | -0.38 | -0.40 | 57 | Cryptocurrency | CARZ vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.48 | -0.43 | -0.43 | 52 | Cryptocurrency, Leveraged Cryptocurrency | CARZ vs SBIT | |
| Defiance Daily Target 2X Short MSTR ETF | -0.43 | -0.44 | -0.44 | 60 | Inverse Equities | CARZ vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.43 | -0.43 | -0.43 | 68 | Inverse Equities, Leveraged Equities | CARZ vs MSTZ | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.42 | — | — | 70 | Derivative Income | CARZ vs WNTR |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CARZ, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CARZ and solid risk/return profiles. The least correlated is Ally Financial Inc. (ALLY) (Financial Services) with a 1Y correlation of 0.33, down from 0.51 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Ally Financial Inc. | 0.33 | 0.41 | 0.51 | 60 | Financial Services | |
| General Motors Company | 0.39 | 0.42 | 0.55 | 83 | Consumer Cyclical | |
| Tesla, Inc. | 0.60 | 0.60 | 0.62 | 63 | Consumer Cyclical |
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