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
1269 ETFs have low correlation with SHM (below 0.3), 66 of which are negatively correlated. The least correlated is Invesco DB US Dollar Index Bullish Fund (UUP) (Currency) with a 1Y correlation of -0.26, roughly unchanged from -0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB US Dollar Index Bullish Fund | -0.26 | -0.27 | -0.24 | 51 | Currency | SHM vs UUP | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.24 | — | — | 68 | Inverse Equities, Leveraged Equities | SHM vs MSTZ | |
| United States Gasoline Fund LP | -0.23 | -0.14 | -0.07 | 78 | Oil & Gas | SHM vs UGA | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.23 | — | — | 70 | Derivative Income | SHM vs WNTR | |
| Proshares Ultrashort Bitcoin ETF | -0.22 | -0.09 | -0.09 | 52 | Cryptocurrency, Leveraged Cryptocurrency | SHM vs SBIT |
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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 0.15, roughly unchanged from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ON Semiconductor Corporation | 0.15 | 0.11 | 0.08 | 71 | Technology | |
| Nuveen AMT-Free Quality Municipal Income Fund | 0.39 | 0.49 | 0.45 | 79 | Financial Services |
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