Looking to diversify beyond GOOY? The ETFs below have historically moved differently from GOOY, 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 GOOY
717 ETFs have low correlation with GOOY (below 0.3), 114 of which are negatively correlated.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| YieldMax MSTR Short Option Income Strategy ETF | -0.30 | — | — | 69 | Derivative Income | GOOY vs WNTR | |
| ProShares Short Bitcoin ETF | -0.24 | -0.25 | — | 51 | Cryptocurrency | GOOY vs BITI | |
| MicroSectors Energy 3X Leveraged ETN | -0.24 | -0.02 | -0.02 | 55 | Leveraged Equities | GOOY vs WTIU | |
| Strive U.S. Energy ETF | -0.23 | -0.02 | — | 68 | Energy Equities | GOOY vs DRLL | |
| YieldMax XOM Option Income Strategy ETF | -0.23 | — | — | 52 | Derivative Income, Dividend | GOOY vs XOMO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for GOOY, 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 Occidental Petroleum Corporation (OXY) (Energy) with a 1Y correlation of -0.26, down from -0.02 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Occidental Petroleum Corporation | -0.26 | -0.02 | — | 68 | Energy | |
| Enbridge Inc. | -0.19 | -0.02 | -0.02 | 82 | Energy | |
| Chubb Limited | -0.17 | -0.09 | — | 87 | Financial Services | |
| The Coca-Cola Company | -0.13 | -0.06 | — | 87 | Consumer Defensive | |
| DaVita Inc. | -0.03 | 0.05 | — | 88 | Healthcare |
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