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
1454 ETFs have low correlation with SH (below 0.3), 1423 of which are negatively correlated. The least correlated is ProShares Ultra S&P500 (SSO) (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 |
|---|---|---|---|---|---|---|---|
| ProShares Ultra S&P500 | -1.00 | -1.00 | -1.00 | 50 | Leveraged Equities, S&P 500 | SH vs SSO | |
| iShares Core S&P 500 ETF | -1.00 | -1.00 | -1.00 | 59 | S&P 500 | SH vs IVV | |
| State Street SPDR Portfolio S&P 500 ETF | -1.00 | -1.00 | -1.00 | 59 | S&P 500 | SH vs SPYM | |
| State Street SPDR S&P 500 ETF | -1.00 | -1.00 | -1.00 | 59 | S&P 500 | SH vs SPY | |
| Vanguard S&P 500 ETF | -1.00 | -1.00 | -1.00 | 59 | S&P 500 | SH vs VOO |
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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 NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of -0.60, roughly unchanged from -0.69 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | -0.60 | -0.64 | -0.69 | 72 | Technology | |
| Alphabet Inc. Class A | -0.58 | -0.59 | -0.68 | 96 | Communication Services | |
| Caterpillar Inc. | -0.57 | -0.61 | -0.59 | 98 | Industrials | |
| Broadcom Inc. | -0.56 | -0.62 | -0.67 | 72 | Technology | |
| Apple Inc | -0.50 | -0.56 | -0.69 | 87 | Technology |
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Build a portfolio that complements SH
Add SH to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with SH