Looking to diversify beyond SHY? The ETFs below have historically moved differently from SHY, 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 SHY
1198 ETFs have low correlation with SHY (below 0.3), 103 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.42, up from -0.52 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.42 | -0.51 | -0.52 | 56 | Leveraged Currency | SHY vs YCS | |
| Invesco DB Oil Fund | -0.40 | -0.22 | -0.14 | 58 | Oil & Gas | SHY vs DBO | |
| Invesco DB Energy Fund | -0.39 | -0.23 | -0.14 | 72 | Oil & Gas | SHY vs DBE | |
| United States Brent Oil Fund LP | -0.39 | -0.22 | -0.14 | 52 | Oil & Gas | SHY vs BNO | |
| United States Oil Fund LP | -0.39 | -0.22 | -0.14 | 55 | Oil & Gas | SHY vs USO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for SHY, 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 ConocoPhillips Company (COP) (Energy) with a 1Y correlation of -0.29, down from -0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ConocoPhillips Company | -0.29 | -0.18 | -0.12 | 72 | Energy | |
| Cheniere Energy, Inc. | -0.26 | -0.08 | -0.05 | 57 | Energy | |
| BP p.l.c. | -0.25 | -0.13 | -0.10 | 84 | Energy | |
| Chevron Corporation | -0.25 | -0.13 | -0.10 | 80 | Energy | |
| Diamondback Energy, Inc. | -0.25 | -0.17 | -0.12 | 79 | Energy |
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