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
389 ETFs have low correlation with EWJ (below 0.3), 71 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.39, down from -0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.39 | -0.26 | -0.27 | 67 | Leveraged Currency | EWJ vs YCS | |
| Invesco DB Energy Fund | -0.32 | -0.07 | 0.06 | 71 | Oil & Gas | EWJ vs DBE | |
| United States Oil Fund LP | -0.31 | -0.06 | 0.07 | 66 | Oil & Gas | EWJ vs USO | |
| United States Brent Oil Fund LP | -0.31 | -0.06 | 0.06 | 65 | Oil & Gas | EWJ vs BNO | |
| Defiance Oil Enhanced Options Income ETF | -0.28 | -0.09 | -0.09 | 55 | Derivative Income | EWJ vs USOY |
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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 ConocoPhillips Company (COP) (Energy) with a 1Y correlation of -0.12, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ConocoPhillips Company | -0.12 | 0.04 | 0.17 | 78 | Energy | |
| Altria Group, Inc. | -0.10 | 0.05 | 0.13 | 73 | Consumer Defensive | |
| Exxon Mobil Corporation | -0.07 | 0.09 | 0.20 | 86 | Energy | |
| Coterra Energy Inc. | -0.07 | 0.12 | 0.21 | 80 | Energy | |
| Chevron Corporation | -0.04 | 0.10 | 0.21 | 84 | 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