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
201 ETFs have low correlation with HYG (below 0.3), 77 of which are negatively correlated. The least correlated is Invesco DB US Dollar Index Bullish Fund (UUP) (Currency) with a 1Y correlation of -0.47, roughly unchanged from -0.42 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB US Dollar Index Bullish Fund | -0.47 | -0.42 | -0.42 | 51 | Currency | HYG vs UUP | |
| Defiance Daily Target 2X Short MSTR ETF | -0.44 | — | — | 60 | Inverse Equities | HYG vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.43 | — | — | 68 | Inverse Equities, Leveraged Equities | HYG vs MSTZ | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.41 | — | — | 70 | Derivative Income | HYG vs WNTR | |
| Proshares Ultrashort Bitcoin ETF | -0.41 | -0.38 | -0.38 | 52 | Cryptocurrency, Leveraged Cryptocurrency | HYG vs SBIT |
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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 -0.19, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | -0.19 | 0.03 | 0.14 | 75 | Energy | |
| ConocoPhillips Company | -0.17 | 0.05 | 0.16 | 66 | Energy | |
| Occidental Petroleum Corporation | -0.16 | 0.07 | 0.18 | 62 | Energy | |
| Chevron Corporation | -0.16 | 0.04 | 0.17 | 70 | Energy | |
| Devon Energy Corporation | -0.15 | 0.10 | 0.21 | 72 | 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