Looking to diversify beyond GOOY? The ETFs below have the lowest correlation with GOOY — 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 GOOY.
Best Diversifiers for GOOY
629 ETFs have low correlation with GOOY (below 0.3), 90 of which are negatively correlated. The least correlated is Defiance Daily Target 2X Short MSTR ETF (SMST) (Inverse Equities) with a 1Y correlation of -0.28, roughly unchanged from -0.32 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Defiance Daily Target 2X Short MSTR ETF | -0.28 | -0.32 | -0.32 | 60 | Inverse Equities | GOOY vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.28 | -0.32 | -0.32 | 68 | Inverse Equities, Leveraged Equities | GOOY vs MSTZ | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.28 | — | — | 70 | Derivative Income | GOOY vs WNTR | |
| Invesco DB US Dollar Index Bullish Fund | -0.24 | — | — | 51 | Currency | GOOY vs UUP | |
| ProShares Short Bitcoin ETF | -0.23 | -0.24 | -0.24 | 57 | Cryptocurrency | GOOY vs BITI |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from GOOY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to GOOY and solid risk/return profiles.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Occidental Petroleum Corporation | -0.24 | — | — | 62 | Energy | |
| Macy's, Inc. | 0.17 | — | — | 89 | Consumer Cyclical | |
| Lumentum Holdings Inc. | 0.19 | 0.26 | 0.26 | 99 | Technology | |
| Prologis, Inc. | 0.21 | 0.16 | 0.16 | 87 | Real Estate | |
| JPMorgan Chase & Co. | 0.22 | 0.22 | 0.22 | 69 | Financial Services |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements GOOY
Add GOOY to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with GOOY