Looking to diversify beyond MJ? The ETFs below have the lowest correlation with MJ — 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 MJ.
Best Diversifiers for MJ
1394 ETFs have low correlation with MJ (below 0.3), 63 of which are negatively correlated. The least correlated is T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) (Inverse Equities) with a 1Y correlation of -0.32, roughly unchanged from -0.26 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T-REX 2X Inverse MSTR Daily Target ETF | -0.32 | -0.26 | -0.26 | 68 | Inverse Equities, Leveraged Equities | MJ vs MSTZ | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.29 | — | — | 70 | Derivative Income | MJ vs WNTR | |
| Proshares Ultrashort Bitcoin ETF | -0.28 | -0.24 | -0.24 | 52 | Cryptocurrency, Leveraged Cryptocurrency | MJ vs SBIT | |
| ProShares Short Bitcoin ETF | -0.26 | -0.17 | -0.23 | 57 | Cryptocurrency | MJ vs BITI | |
| Direxion Daily MU Bull 2X Shares | -0.18 | -0.18 | -0.18 | 99 | Leveraged Equities, Semiconductors | MJ vs MUU |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MJ, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MJ and solid risk/return profiles. The least correlated is Innovative Industrial Properties, Inc. (IIPR) (Real Estate) with a 1Y correlation of 0.43, roughly unchanged from 0.50 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Innovative Industrial Properties, Inc. | 0.43 | 0.43 | 0.50 | 70 | Real Estate |
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