Looking to diversify beyond CHPS? The ETFs below have the lowest correlation with CHPS — 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 CHPS.
Best Diversifiers for CHPS
494 ETFs have low correlation with CHPS (below 0.3), 71 of which are negatively correlated. The least correlated is Defiance Daily Target 2X Short MSTR ETF (SMST) (Inverse Equities) with a 1Y correlation of -0.36, roughly unchanged from -0.38 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Defiance Daily Target 2X Short MSTR ETF | -0.36 | -0.38 | -0.38 | 53 | Inverse Equities | CHPS vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.36 | -0.37 | -0.37 | 60 | Inverse Equities, Leveraged Equities | CHPS vs MSTZ | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.33 | — | — | 65 | Derivative Income | CHPS vs WNTR | |
| Return Stacked Bonds & Futures Yield ETF | -0.21 | -0.22 | -0.22 | 51 | Multistrategy | CHPS vs RSBY | |
| Texas Capital Government Money Market ETF | -0.20 | — | — | 100 | Money Market | CHPS vs MMKT |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CHPS, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CHPS and solid risk/return profiles. The least correlated is Waste Management, Inc. (WM) (Industrials) with a 1Y correlation of -0.38, down from -0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Waste Management, Inc. | -0.38 | -0.12 | -0.12 | 51 | Industrials | |
| Chubb Limited | -0.30 | -0.10 | -0.10 | 83 | Financial Services | |
| Duke Energy Corporation | -0.27 | -0.19 | -0.19 | 63 | Utilities | |
| Altria Group, Inc. | -0.24 | -0.13 | -0.13 | 79 | Consumer Defensive | |
| Verizon Communications Inc. | -0.24 | -0.13 | -0.13 | 54 | Communication Services |
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Build a portfolio that complements CHPS
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