Looking to diversify beyond CHPX? The ETFs below have the lowest correlation with CHPX — 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 CHPX.
Best Diversifiers for CHPX
506 ETFs have low correlation with CHPX (below 0.3), 93 of which are negatively correlated. The least correlated is ProShares Short Bitcoin ETF (BITI) (Cryptocurrency) with a 1Y correlation of -0.42, roughly unchanged from -0.42 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.42 | -0.42 | -0.42 | 57 | Cryptocurrency | CHPX vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.42 | -0.42 | -0.42 | 52 | Cryptocurrency, Leveraged Cryptocurrency | CHPX vs SBIT | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.35 | -0.35 | -0.35 | 68 | Inverse Equities, Leveraged Equities | CHPX vs MSTZ | |
| FT Vest DJIA Dogs 10 Target Income ETF | -0.21 | -0.21 | -0.21 | 56 | Derivative Income | CHPX vs DOGG | |
| Barclays ETN+ Select MLP ETN | -0.18 | -0.18 | -0.18 | 61 | MLPs | CHPX vs ATMP |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CHPX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CHPX and solid risk/return profiles. The least correlated is Seagate Technology plc (STX) (Technology) with a 1Y correlation of 0.64, roughly unchanged from 0.64 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Seagate Technology plc | 0.64 | 0.64 | 0.64 | 99 | Technology |
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