Looking to diversify beyond SHM? The ETFs below have historically moved differently from SHM, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for SHM
1435 ETFs have low correlation with SHM (below 0.3), 82 of which are negatively correlated.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T-REX 2X Inverse MSTR Daily Target ETF | -0.23 | — | — | 61 | Inverse Equities, Leveraged Equities | SHM vs MSTZ | |
| YieldMax MSTR Short Option Income Strategy ETF | -0.22 | — | — | 75 | Derivative Income | SHM vs WNTR | |
| United States Gasoline Fund, LP | -0.21 | -0.14 | -0.07 | 87 | Oil & Gas | SHM vs UGA | |
| ProShares Short Bitcoin ETF | -0.20 | -0.05 | — | 61 | Cryptocurrency | SHM vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.20 | — | — | 55 | Cryptocurrency, Leveraged Cryptocurrency | SHM vs SBIT |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for SHM, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is ON Semiconductor Corporation (ON) (Technology) with a 1Y correlation of 0.14, roughly unchanged from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ON Semiconductor Corporation | 0.14 | 0.11 | 0.07 | 68 | Technology | |
| Nuveen AMT-Free Quality Municipal Income Fund | 0.36 | 0.48 | 0.45 | 78 | Financial Services |
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