Looking to diversify beyond MDYG? The ETFs below have historically moved differently from MDYG, 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 MDYG
283 ETFs have low correlation with MDYG (below 0.3), 84 of which are negatively correlated. The least correlated is ProShares Short Bitcoin ETF (BITI) (Cryptocurrency) with a 1Y correlation of -0.44, roughly unchanged from -0.36 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.44 | -0.36 | — | 61 | Cryptocurrency | MDYG vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.44 | — | — | 55 | Cryptocurrency, Leveraged Cryptocurrency | MDYG vs SBIT | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.43 | — | — | 61 | Inverse Equities, Leveraged Equities | MDYG vs MSTZ | |
| YieldMax MSTR Short Option Income Strategy ETF | -0.40 | — | — | 75 | Derivative Income | MDYG vs WNTR | |
| Alpha Architect Tail Risk ETF | -0.29 | -0.08 | — | 56 | Options Trading | MDYG vs CAOS |
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