Looking to diversify beyond CNYA? The ETFs below have historically moved differently from CNYA, 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 CNYA
809 ETFs have low correlation with CNYA (below 0.3), 107 of which are negatively correlated. The least correlated is ProShares Short Bitcoin ETF (BITI) (Cryptocurrency) with a 1Y correlation of -0.26, down from -0.15 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.26 | -0.15 | — | 61 | Cryptocurrency | CNYA vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.26 | — | — | 55 | Cryptocurrency, Leveraged Cryptocurrency | CNYA vs SBIT | |
| Defiance Daily Target 2X Short MSTR ETF | -0.21 | — | — | 52 | Inverse Equities | CNYA vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.21 | -0.20 | -0.20 | 61 | Inverse Equities, Leveraged Equities | CNYA vs MSTZ | |
| iShares U.S. Insurance ETF | -0.21 | -0.06 | 0.06 | 53 | Financials Equities | CNYA vs IAK |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CNYA, 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 Berkshire Hathaway Inc. (BRK-B) (Financial Services) with a 1Y correlation of -0.01, down from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Berkshire Hathaway Inc. | -0.01 | 0.07 | 0.12 | 61 | Financial Services | |
| Amazon.com, Inc | 0.22 | 0.16 | 0.20 | 60 | Consumer Cyclical | |
| Alphabet Inc. Class A | 0.25 | 0.20 | 0.23 | 95 | Communication Services | |
| NVIDIA Corporation | 0.31 | 0.18 | 0.24 | 56 | Technology |
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