Looking to diversify beyond ESML? The ETFs below have the lowest correlation with ESML — 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 ESML.
Best Diversifiers for ESML
318 ETFs have low correlation with ESML (below 0.3), 51 of which are negatively correlated. The least correlated is ProShares Short Bitcoin ETF (BITI) (Cryptocurrency) with a 1Y correlation of -0.43, roughly unchanged from -0.40 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.43 | -0.38 | -0.40 | 57 | Cryptocurrency | ESML vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.43 | -0.42 | -0.42 | 52 | Cryptocurrency, Leveraged Cryptocurrency | ESML vs SBIT | |
| Defiance Daily Target 2X Short MSTR ETF | -0.42 | — | — | 60 | Inverse Equities | ESML vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.42 | -0.42 | -0.42 | 68 | Inverse Equities, Leveraged Equities | ESML vs MSTZ | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.40 | — | — | 70 | Derivative Income | ESML vs WNTR |
See all 2045 diversifiers for ESML
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