Looking to diversify beyond MJ? The ETFs below have historically moved differently from MJ, 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 MJ
1604 ETFs have low correlation with MJ (below 0.3), 81 of which are negatively correlated.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T-REX 2X Inverse MSTR Daily Target ETF | -0.31 | — | — | 61 | Inverse Equities, Leveraged Equities | MJ vs MSTZ | |
| YieldMax MSTR Short Option Income Strategy ETF | -0.29 | — | — | 75 | Derivative Income | MJ vs WNTR | |
| Proshares Ultrashort Bitcoin ETF | -0.26 | — | — | 55 | Cryptocurrency, Leveraged Cryptocurrency | MJ vs SBIT | |
| ProShares Short Bitcoin ETF | -0.26 | -0.16 | — | 61 | Cryptocurrency | MJ vs BITI | |
| iShares 0-1 Year Treasury Bond ETF | -0.16 | -0.03 | -0.02 | 100 | Government Bonds, Ultrashort Bond | MJ vs SHV |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for MJ, 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 Innovative Industrial Properties, Inc. (IIPR) (Real Estate) with a 1Y correlation of 0.42, roughly unchanged from 0.50 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Innovative Industrial Properties, Inc. | 0.42 | 0.43 | 0.50 | 71 | Real Estate |
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