Looking to balance out your exposure to RY? The ETFs below have the lowest correlation with RY — they tend to move on their own, which can help reduce risk when RY drops. The stock ideas table highlights individual companies that behave independently from RY.
Best Diversifiers for RY
45 ETFs have low correlation with RY (below 0.3), 6 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.14, down from -0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.14 | -0.02 | -0.03 | 100 | Ultrashort Bond | RY vs SGOV | |
| WisdomTree Floating Rate Treasury Fund | -0.13 | -0.04 | -0.04 | 100 | Government Bonds, Ultrashort Bond | RY vs USFR | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.12 | -0.08 | -0.04 | 100 | Government Bonds, Ultrashort Bond | RY vs BIL | |
| Alpha Architect 1-3 Month Box ETF | -0.10 | 0.01 | — | 100 | Ultrashort Bond | RY vs BOXX | |
| Vanguard Ultra-Short Treasury ETF | -0.06 | -0.07 | -0.07 | 100 | Ultrashort Bond, Government Bonds | RY vs VGUS |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from RY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to RY and solid risk/return profiles. The least correlated is Devon Energy Corporation (DVN) (Energy) with a 1Y correlation of -0.13, down from 0.30 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Devon Energy Corporation | -0.13 | 0.11 | 0.30 | 72 | Energy | |
| Occidental Petroleum Corporation | -0.13 | 0.07 | 0.23 | 62 | Energy | |
| Chevron Corporation | -0.12 | 0.12 | 0.30 | 70 | Energy | |
| ConocoPhillips Company | -0.11 | 0.07 | 0.24 | 64 | Energy | |
| Emera Inc | -0.10 | — | — | 85 | Utilities |
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Build a portfolio that complements RY
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Analyze a portfolio with RY