Looking to diversify beyond HYG? The ETFs below have historically moved differently from HYG, 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 HYG
239 ETFs have low correlation with HYG (below 0.3), 94 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 | -0.43 | — | — | 69 | Derivative Income | HYG vs WNTR | |
| ProShares Short Bitcoin ETF | -0.42 | -0.32 | — | 51 | Cryptocurrency | HYG vs BITI | |
| ProShares UltraShort Yen | -0.36 | -0.27 | -0.25 | 59 | Leveraged Currency | HYG vs YCS | |
| Invesco DB Energy Fund | -0.34 | -0.11 | 0.05 | 66 | Oil & Gas | HYG vs DBE | |
| Invesco DB Oil Fund | -0.32 | -0.10 | 0.04 | 51 | Oil & Gas | HYG vs DBO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HYG, 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 Exxon Mobil Corporation (XOM) (Energy) with a 1Y correlation of -0.23, down from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | -0.23 | 0.01 | 0.13 | 85 | Energy | |
| Occidental Petroleum Corporation | -0.22 | 0.04 | 0.17 | 68 | Energy | |
| Devon Energy Corporation | -0.21 | 0.08 | 0.20 | 78 | Energy | |
| ConocoPhillips Company | -0.20 | 0.02 | 0.15 | 73 | Energy | |
| Chevron Corporation | -0.19 | 0.03 | 0.16 | 79 | Energy |
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