Looking to diversify beyond HYEM? The ETFs below have historically moved differently from HYEM, 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 HYEM
581 ETFs have low correlation with HYEM (below 0.3), 98 of which are negatively correlated. The least correlated is ProShares Short Bitcoin ETF (BITI) (Cryptocurrency) with a 1Y correlation of -0.35, down from -0.24 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.35 | -0.24 | — | 61 | Cryptocurrency | HYEM vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.35 | — | — | 55 | Cryptocurrency, Leveraged Cryptocurrency | HYEM vs SBIT | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.30 | — | — | 61 | Inverse Equities, Leveraged Equities | HYEM vs MSTZ | |
| Defiance Daily Target 2X Short MSTR ETF | -0.30 | — | — | 52 | Inverse Equities | HYEM vs SMST | |
| YieldMax MSTR Short Option Income Strategy ETF | -0.29 | -0.29 | -0.29 | 75 | Derivative Income | HYEM vs WNTR |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HYEM, 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 Permian Resources Corporation (PR) (Energy) with a 1Y correlation of -0.11, down from 0.09 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Permian Resources Corporation | -0.11 | 0.09 | — | 84 | Energy | |
| Arch Capital Group Ltd. | 0.04 | 0.10 | 0.16 | 67 | Financial Services | |
| Merck & Co., Inc. | 0.04 | 0.07 | 0.08 | 96 | Healthcare | |
| Glaukos Corporation | 0.19 | 0.18 | 0.22 | 89 | Healthcare | |
| Hilton Worldwide Holdings Inc. | 0.29 | 0.32 | 0.35 | 72 | Consumer Cyclical |
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