Looking to diversify beyond SHM? The ETFs below have the lowest correlation with SHM — 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 SHM.
Best Diversifiers for SHM
1326 ETFs have low correlation with SHM (below 0.3), 66 of which are negatively correlated. The least correlated is United States Gasoline Fund LP (UGA) (Oil & Gas) with a 1Y correlation of -0.23, down from -0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Gasoline Fund LP | -0.23 | -0.12 | -0.07 | 69 | Oil & Gas | SHM vs UGA | |
| Invesco DB Energy Fund | -0.21 | -0.12 | -0.05 | 71 | Oil & Gas | SHM vs DBE | |
| United States Oil Fund LP | -0.20 | -0.12 | -0.04 | 66 | Oil & Gas | SHM vs USO | |
| iShares S&P GSCI Commodity-Indexed Trust | -0.19 | -0.10 | -0.02 | 71 | Commodities | SHM vs GSG | |
| United States 12 Month Oil Fund LP | -0.18 | -0.10 | -0.03 | 56 | Oil & Gas | SHM vs USL |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SHM, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SHM and solid risk/return profiles. The least correlated is ON Semiconductor Corporation (ON) (Technology) with a 1Y correlation of 0.19, up from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ON Semiconductor Corporation | 0.19 | 0.10 | 0.08 | 93 | Technology | |
| Nuveen AMT-Free Quality Municipal Income Fund | 0.39 | 0.48 | 0.45 | 78 | Financial Services |
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