Looking to diversify beyond FXY? The ETFs below have historically moved differently from FXY, 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 FXY
1756 ETFs have low correlation with FXY (below 0.3), 78 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.94, roughly unchanged from -0.97 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.94 | -0.96 | -0.97 | 56 | Leveraged Currency | FXY vs YCS | |
| United States Gasoline Fund, LP | -0.26 | -0.14 | -0.07 | 72 | Oil & Gas | FXY vs UGA | |
| Invesco DB Energy Fund | -0.26 | -0.14 | -0.08 | 54 | Oil & Gas | FXY vs DBE | |
| TCW AAA CLO ETF | -0.23 | — | — | 99 | CLO | FXY vs ACLO | |
| Fidelity Managed Futures ETF | -0.23 | -0.18 | -0.18 | 77 | Systematic Trend, Actively Managed | FXY vs FFUT |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FXY, 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 McKesson Corporation (MCK) (Healthcare) with a 1Y correlation of 0.02, roughly unchanged from -0.00 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| McKesson Corporation | 0.02 | -0.01 | -0.00 | 65 | Healthcare | |
| Kinder Morgan, Inc. | 0.04 | 0.04 | 0.04 | 66 | Energy | |
| Apple Inc | 0.04 | -0.02 | -0.01 | 90 | Technology | |
| TotalEnergies SE | 0.04 | 0.03 | 0.03 | 86 | Energy | |
| Leonardo SpA ADR | 0.05 | 0.02 | 0.05 | 58 | Industrials |
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