Looking to diversify beyond HYG? The ETFs below have the lowest correlation with HYG — 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 HYG.
Best Diversifiers for HYG
240 ETFs have low correlation with HYG (below 0.3), 71 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.38, down from -0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.38 | -0.26 | -0.25 | 63 | Leveraged Currency | HYG vs YCS | |
| United States Oil Fund LP | -0.35 | -0.07 | 0.05 | 66 | Oil & Gas | HYG vs USO | |
| Invesco DB Energy Fund | -0.35 | -0.07 | 0.07 | 71 | Oil & Gas | HYG vs DBE | |
| United States Brent Oil Fund LP | -0.35 | -0.07 | 0.05 | 65 | Oil & Gas | HYG vs BNO | |
| ProShares K-1 Free Crude Oil Strategy ETF | -0.33 | -0.06 | 0.06 | 56 | Oil & Gas | HYG vs OILK |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HYG, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HYG and solid risk/return profiles. The least correlated is Exxon Mobil Corporation (XOM) (Energy) with a 1Y correlation of -0.17, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | -0.17 | 0.06 | 0.15 | 85 | Energy | |
| ConocoPhillips Company | -0.15 | 0.06 | 0.15 | 76 | Energy | |
| Chevron Corporation | -0.13 | 0.08 | 0.18 | 83 | Energy | |
| Altria Group, Inc. | -0.10 | 0.09 | 0.17 | 67 | Consumer Defensive | |
| Energy Transfer LP | -0.08 | 0.24 | 0.30 | 73 | Energy |
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Build a portfolio that complements HYG
Add HYG to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with HYG