Looking to diversify beyond EWJ? The ETFs below have the lowest correlation with EWJ — 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 EWJ.
Best Diversifiers for EWJ
373 ETFs have low correlation with EWJ (below 0.3), 67 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.36, roughly unchanged from -0.26 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.36 | -0.25 | -0.26 | 72 | Leveraged Currency | EWJ vs YCS | |
| ProShares Short Bitcoin ETF | -0.35 | -0.20 | — | 53 | Cryptocurrency | EWJ vs BITI | |
| Defiance Daily Target 2X Short MSTR ETF | -0.31 | — | — | 56 | Inverse Equities | EWJ vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.29 | -0.24 | -0.24 | 65 | Inverse Equities, Leveraged Equities | EWJ vs MSTZ | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.29 | — | — | 70 | Derivative Income | EWJ vs WNTR |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from EWJ, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to EWJ and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.17, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.17 | -0.00 | 0.11 | 78 | Consumer Defensive | |
| Chubb Limited | -0.13 | 0.09 | 0.20 | 83 | Financial Services | |
| ConocoPhillips Company | -0.11 | 0.04 | 0.18 | 66 | Energy | |
| Devon Energy Corporation | -0.10 | 0.08 | 0.19 | 73 | Energy | |
| Occidental Petroleum Corporation | -0.10 | 0.08 | 0.19 | 64 | Energy |
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Build a portfolio that complements EWJ
Add EWJ to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with EWJ