Looking to diversify beyond HYS? The ETFs below have historically moved differently from HYS, 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 HYS
258 ETFs have low correlation with HYS (below 0.3), 88 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 | HYS vs WNTR | |
| ProShares Short Bitcoin ETF | -0.42 | -0.31 | — | 51 | Cryptocurrency | HYS vs BITI | |
| Invesco DB Energy Fund | -0.35 | -0.10 | 0.06 | 66 | Oil & Gas | HYS vs DBE | |
| Invesco DB Oil Fund | -0.33 | -0.08 | 0.06 | 51 | Oil & Gas | HYS vs DBO | |
| ProShares UltraShort Yen | -0.31 | -0.23 | -0.22 | 59 | Leveraged Currency | HYS vs YCS |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HYS, 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 Realty Income Corporation (O) (Real Estate) with a 1Y correlation of 0.09, down from 0.36 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Realty Income Corporation | 0.09 | 0.28 | 0.36 | 74 | Real Estate | |
| NVIDIA Corporation | 0.30 | 0.31 | 0.45 | 61 | Technology | |
| Annaly Capital Management, Inc. | 0.44 | 0.55 | 0.58 | 79 | Real Estate | |
| Eaton Vance Tax-Managed Buy-Write Opportunities Fu... | 0.51 | 0.50 | 0.56 | 82 | Financial Services |
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