Looking to diversify beyond ESGD? The ETFs below have historically moved differently from ESGD, 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 ESGD
264 ETFs have low correlation with ESGD (below 0.3), 84 of which are negatively correlated. The least correlated is ProShares Short Bitcoin ETF (BITI) (Cryptocurrency) with a 1Y correlation of -0.43, down from -0.31 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.43 | -0.31 | — | 61 | Cryptocurrency | ESGD vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.42 | — | — | 55 | Cryptocurrency, Leveraged Cryptocurrency | ESGD vs SBIT | |
| ProShares UltraShort Yen | -0.40 | -0.29 | -0.24 | 56 | Leveraged Currency | ESGD vs YCS | |
| Defiance Daily Target 2X Short MSTR ETF | -0.39 | — | — | 52 | Inverse Equities | ESGD vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.38 | — | — | 61 | Inverse Equities, Leveraged Equities | ESGD vs MSTZ |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ESGD, 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 Sprott Physical Gold Trust (PHYS) (Financial Services) with a 1Y correlation of 0.45, up from 0.32 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Sprott Physical Gold Trust | 0.45 | 0.35 | 0.32 | 64 | Financial Services |
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