Looking to diversify beyond HYLB? The ETFs below have the lowest correlation with HYLB — 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 HYLB.
Best Diversifiers for HYLB
151 ETFs have low correlation with HYLB (below 0.3), 37 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.40, down from -0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.40 | -0.26 | -0.24 | 61 | Leveraged Currency | HYLB vs YCS | |
| F/m Ultrashort Treasury Inflation-Protected Securi... | -0.20 | — | — | 97 | Inflation-Protected Bonds | HYLB vs RBIL | |
| iShares Enhanced Short-Term Bond Active ETF | -0.19 | — | — | 99 | Ultrashort Bond | HYLB vs CSHP | |
| VanEck Commodity Strategy ETF | -0.18 | 0.02 | — | 55 | Commodities | HYLB vs PIT | |
| First Trust Alternative Absolute Return Strategy E... | -0.15 | -0.02 | -0.01 | 70 | Commodities | HYLB vs FAAR |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HYLB, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HYLB and solid risk/return profiles. The least correlated is Oxford Lane Capital Corp. (OXLCP) (Financial Services) with a 1Y correlation of 0.09, roughly unchanged from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Oxford Lane Capital Corp. | 0.09 | 0.09 | 0.13 | 95 | Financial Services | |
| Oxford Lane Capital Corp. 7.125% Series 2029 Term ... | 0.18 | 0.05 | 0.11 | 83 | Financial Services | |
| Kratos Defense & Security Solutions, Inc. | 0.30 | 0.33 | 0.41 | 51 | Industrials | |
| Rocket Lab USA, Inc. | 0.36 | 0.40 | 0.43 | 90 | Industrials | |
| Amazon.com, Inc | 0.42 | 0.42 | 0.50 | 52 | Consumer Cyclical |
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