Looking to diversify beyond SCHY? The ETFs below have historically moved differently from SCHY, 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 SCHY
276 ETFs have low correlation with SCHY (below 0.3), 33 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.46, down from -0.31 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.46 | -0.39 | -0.31 | 59 | Leveraged Currency | SCHY vs YCS | |
| Invesco DB Energy Fund | -0.24 | -0.09 | 0.08 | 53 | Oil & Gas | SCHY vs DBE | |
| United States Gasoline Fund, LP | -0.23 | -0.08 | 0.08 | 74 | Oil & Gas | SCHY vs UGA | |
| YieldMax MSTR Short Option Income Strategy ETF | -0.22 | -0.22 | -0.22 | 63 | Derivative Income | SCHY vs WNTR | |
| TCW AAA CLO ETF | -0.19 | — | — | 99 | CLO | SCHY vs ACLO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for SCHY, 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 Devon Energy Corporation (DVN) (Energy) with a 1Y correlation of -0.02, down from 0.27 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Devon Energy Corporation | -0.02 | 0.14 | 0.27 | 76 | Energy | |
| ConocoPhillips Company | -0.01 | 0.11 | 0.26 | 71 | Energy | |
| Energy Transfer LP | -0.01 | 0.17 | 0.31 | 82 | Energy | |
| Occidental Petroleum Corporation | 0.00 | 0.13 | 0.25 | 68 | Energy | |
| Chevron Corporation | 0.04 | 0.16 | 0.27 | 76 | Energy |
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