Looking to diversify beyond SH? The ETFs below have the lowest correlation with SH — 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 SH.
Best Diversifiers for SH
1590 ETFs have low correlation with SH (below 0.3), 1518 of which are negatively correlated. The least correlated is Direxion Daily S&P 500 Bull 3X ETF (SPXL) (Leveraged Equities) with a 1Y correlation of -1.00, roughly unchanged from -1.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Direxion Daily S&P 500 Bull 3X ETF | -1.00 | -1.00 | -1.00 | 63 | Leveraged Equities, S&P 500 | SH vs SPXL | |
| ProShares Ultra S&P500 | -1.00 | -1.00 | -1.00 | 62 | Leveraged Equities, S&P 500 | SH vs SSO | |
| ProShares UltraPro S&P 500 | -1.00 | -1.00 | -1.00 | 62 | Leveraged Equities, S&P 500 | SH vs UPRO | |
| iShares Core S&P 500 ETF | -1.00 | -1.00 | -1.00 | 70 | S&P 500 | SH vs IVV | |
| State Street SPDR Portfolio S&P 500 ETF | -1.00 | -1.00 | -1.00 | 70 | S&P 500 | SH vs SPYM |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SH, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SH and solid risk/return profiles. The least correlated is Caterpillar Inc. (CAT) (Industrials) with a 1Y correlation of -0.58, roughly unchanged from -0.59 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Caterpillar Inc. | -0.58 | -0.62 | -0.59 | 98 | Industrials | |
| NVIDIA Corporation | -0.58 | -0.63 | -0.69 | 78 | Technology | |
| Broadcom Inc. | -0.57 | -0.63 | -0.68 | 84 | Technology | |
| Alphabet Inc. Class A | -0.57 | -0.59 | -0.68 | 96 | Communication Services | |
| Tesla, Inc. | -0.55 | -0.56 | -0.57 | 55 | Consumer Cyclical |
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Build a portfolio that complements SH
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