Looking to diversify beyond EWJ? The ETFs below have historically moved differently from EWJ, 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 EWJ
375 ETFs have low correlation with EWJ (below 0.3), 69 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.33, roughly unchanged from -0.27 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.33 | -0.25 | -0.27 | 59 | Leveraged Currency | EWJ vs YCS | |
| YieldMax MSTR Short Option Income Strategy ETF | -0.32 | — | — | 63 | Derivative Income | EWJ vs WNTR | |
| Invesco DB Energy Fund | -0.29 | -0.09 | 0.05 | 53 | Oil & Gas | EWJ vs DBE | |
| United States Gasoline Fund, LP | -0.24 | -0.08 | 0.05 | 74 | Oil & Gas | EWJ vs UGA | |
| F/m Ultrashort Treasury Inflation-Protected Securi... | -0.21 | -0.19 | -0.19 | 97 | Inflation-Protected Bonds | EWJ vs RBIL |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for EWJ, 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 Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.23, down from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.23 | -0.02 | 0.09 | 64 | Consumer Defensive | |
| ConocoPhillips Company | -0.16 | 0.00 | 0.15 | 71 | Energy | |
| Devon Energy Corporation | -0.15 | 0.06 | 0.18 | 76 | Energy | |
| Chubb Limited | -0.14 | 0.09 | 0.18 | 86 | Financial Services | |
| McKesson Corporation | -0.13 | -0.01 | 0.10 | 59 | Healthcare |
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