Looking to diversify beyond SHY? The ETFs below have the lowest correlation with SHY — 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 SHY.
Best Diversifiers for SHY
1080 ETFs have low correlation with SHY (below 0.3), 41 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.45, roughly unchanged from -0.52 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.45 | -0.50 | -0.52 | 63 | Leveraged Currency | SHY vs YCS | |
| United States Gasoline Fund LP | -0.38 | -0.22 | -0.13 | 55 | Oil & Gas | SHY vs UGA | |
| Fidelity Managed Futures ETF | -0.35 | — | — | 64 | Systematic Trend | SHY vs FFUT | |
| Bastion Energy ETF | -0.27 | — | — | 84 | Energy Equities | SHY vs BESF | |
| PIMCO Commodity Strategy Active Exchange-Traded Fu... | -0.26 | -0.11 | — | 50 | Commodities | SHY vs CMDT |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SHY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SHY and solid risk/return profiles. The least correlated is ConocoPhillips Company (COP) (Energy) with a 1Y correlation of -0.26, down from -0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ConocoPhillips Company | -0.26 | -0.14 | -0.12 | 65 | Energy | |
| Chevron Corporation | -0.24 | -0.11 | -0.09 | 70 | Energy | |
| Exxon Mobil Corporation | -0.21 | -0.09 | -0.09 | 72 | Energy | |
| BP p.l.c. | -0.21 | -0.10 | -0.09 | 77 | Energy | |
| Energy Transfer LP | -0.17 | -0.06 | -0.07 | 72 | Energy |
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