Looking to balance out your exposure to SHIP? The ETFs below have the lowest correlation with SHIP — they tend to move on their own, which can help reduce risk when SHIP drops. The stock ideas table highlights individual companies that behave independently from SHIP.
Best Diversifiers for SHIP
11 ETFs have low correlation with SHIP (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Low Duration Bond Factor ETF (FLDR) (Short-Term Bond) with a 1Y correlation of 0.05, roughly unchanged from 0.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Low Duration Bond Factor ETF | 0.05 | -0.01 | 0.00 | 98 | Short-Term Bond, Corporate Bonds | SHIP vs FLDR | |
| Fidelity MSCI Health Care Index ETF | 0.07 | 0.13 | 0.14 | 59 | Health & Biotech Equities | SHIP vs FHLC | |
| Roundhill Innovation-100 0DTE Covered Call Strateg... | 0.24 | — | — | 59 | Derivative Income, Options Trading | SHIP vs QDTE | |
| iShares MSCI Emerging Markets ex China ETF | 0.25 | 0.26 | 0.29 | 74 | Emerging Markets Equities | SHIP vs EMXC | |
| Global X NASDAQ 100 Covered Call ETF | 0.25 | 0.21 | 0.23 | 85 | Nasdaq-100, Derivative Income | SHIP vs QYLD |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SHIP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SHIP and solid risk/return profiles. The least correlated is Eli Lilly and Company (LLY) (Healthcare) with a 1Y correlation of -0.02, roughly unchanged from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Eli Lilly and Company | -0.02 | 0.11 | 0.06 | 79 | Healthcare | |
| Lockheed Martin Corporation | 0.02 | 0.00 | 0.05 | 56 | Industrials | |
| Arch Capital Group Ltd. | 0.06 | 0.09 | 0.12 | 62 | Financial Services | |
| Griffon Corporation | 0.07 | 0.12 | 0.17 | 63 | Industrials | |
| Verizon Communications Inc. | 0.07 | 0.05 | 0.04 | 61 | Communication Services |
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