Looking to balance out your exposure to SHAZ? The ETFs below have the lowest correlation with SHAZ — they tend to move on their own, which can help reduce risk when SHAZ drops. The stock ideas table highlights individual companies that behave independently from SHAZ.
Best Diversifiers for SHAZ
7 ETFs have low correlation with SHAZ (below 0.3), 2 of which are negatively correlated. The least correlated is SonicShares Global Shipping ETF (BOAT) (Transportation Equities) with a 1Y correlation of -0.06, roughly unchanged from -0.02 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SonicShares Global Shipping ETF | -0.06 | -0.02 | — | 88 | Transportation Equities | SHAZ vs BOAT | |
| Breakwave Tanker Shipping ETF | -0.03 | -0.03 | — | 99 | Commodities | SHAZ vs BWET | |
| Invesco S&P 500 Equal Weight ETF | 0.07 | 0.02 | — | 57 | S&P 500, Equal Weight | SHAZ vs RSP | |
| iShares Core 30/70 Conservative Allocation ETF | 0.16 | 0.06 | — | 59 | Diversified Portfolio | SHAZ vs AOK | |
| Direxion Daily MU Bull 2X Shares | 0.18 | — | — | 98 | Leveraged Equities, Semiconductors | SHAZ vs MUU |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SHAZ, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SHAZ and solid risk/return profiles. The least correlated is Lumentum Holdings Inc. (LITE) (Technology) with a 1Y correlation of 0.01, roughly unchanged from -0.03 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Lumentum Holdings Inc. | 0.01 | -0.03 | — | 99 | Technology | |
| Amazon.com, Inc | 0.05 | 0.00 | — | 54 | Consumer Cyclical | |
| BrightSpring Health Services, Inc | 0.07 | — | — | 99 | Healthcare | |
| Coherent Corp. | 0.08 | 0.03 | — | 92 | Technology | |
| Intel Corporation | 0.09 | 0.03 | — | 97 | Technology |
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Build a portfolio that complements SHAZ
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