Looking to diversify beyond DAMD? The ETFs below have the lowest correlation with DAMD — 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 DAMD.
Best Diversifiers for DAMD
3 ETFs have low correlation with DAMD (below 0.3), 2 of which are negatively correlated. The least correlated is Defiance S&P 500 Income Target ETF (SPYT) (Derivative Income) with a 1Y correlation of -0.61, roughly unchanged from -0.61 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Defiance S&P 500 Income Target ETF | -0.61 | -0.61 | — | 56 | Derivative Income, S&P 500 | DAMD vs SPYT | |
| Defiance Large Cap ex-Mag 7 ETF | -0.59 | — | — | 78 | Large Cap Blend Equities | DAMD vs XMAG | |
| Direxion Daily NFLX Bear 1X Shares | 0.01 | 0.01 | 0.01 | 63 | Inverse Equities | DAMD vs NFXS | |
| Defiance Daily Target 2X Short MSTR ETF | 0.41 | 0.41 | 0.41 | 53 | Inverse Equities | DAMD vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | 0.41 | 0.41 | — | 62 | Inverse Equities, Leveraged Equities | DAMD vs MSTZ |
Diversification Analysis
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