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
1545 ETFs have low correlation with SH (below 0.3), 1488 of which are negatively correlated. The least correlated is ProShares UltraPro S&P 500 (UPRO) (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 UltraPro S&P 500 | -1.00 | -1.00 | -1.00 | 52 | Leveraged Equities, S&P 500 | SH vs UPRO | |
| Direxion Daily S&P 500 Bull 3X ETF | -1.00 | -1.00 | -1.00 | 52 | Leveraged Equities, S&P 500 | SH vs SPXL | |
| ProShares Ultra S&P500 | -1.00 | -1.00 | -1.00 | 54 | Leveraged Equities, S&P 500 | SH vs SSO | |
| State Street SPDR Portfolio S&P 500 ETF | -1.00 | -1.00 | -1.00 | 66 | S&P 500 | SH vs SPYM | |
| State Street SPDR S&P 500 ETF | -1.00 | -1.00 | -1.00 | 66 | S&P 500 | SH vs SPY |
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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 | -0.63 | -0.69 | 65 | Technology | |
| Tesla, Inc. | -0.60 | -0.57 | -0.58 | 63 | Consumer Cyclical | |
| Alphabet Inc. Class A | -0.60 | -0.60 | -0.68 | 96 | Communication Services | |
| Broadcom Inc. | -0.59 | -0.64 | -0.69 | 71 | Technology | |
| Caterpillar Inc. | -0.58 | -0.61 | -0.59 | 97 | Industrials |
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Build a portfolio that complements SH
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