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
1124 ETFs have low correlation with SHY (below 0.3), 81 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.44, roughly unchanged from -0.52 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.44 | -0.50 | -0.52 | 72 | Leveraged Currency | SHY vs YCS | |
| Invesco DB US Dollar Index Bullish Fund | -0.43 | -0.44 | -0.38 | 51 | Currency | SHY vs UUP | |
| United States Gasoline Fund LP | -0.39 | -0.23 | -0.14 | 78 | Oil & Gas | SHY vs UGA | |
| Invesco DB Energy Fund | -0.38 | -0.21 | -0.13 | 53 | Oil & Gas | SHY vs DBE | |
| Fidelity Managed Futures ETF | -0.37 | — | — | 71 | Systematic Trend | SHY vs FFUT |
To view more results, upgrade your current subscription plan.
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 -0.29, down from -0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ConocoPhillips Company | -0.29 | -0.17 | -0.12 | 66 | Energy | |
| Chevron Corporation | -0.24 | -0.12 | -0.09 | 70 | Energy | |
| Diamondback Energy, Inc. | -0.23 | -0.16 | -0.12 | 77 | Energy | |
| Cheniere Energy, Inc. | -0.22 | -0.07 | -0.05 | 58 | Energy | |
| Exxon Mobil Corporation | -0.21 | -0.10 | -0.09 | 75 | Energy |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements SHY
Add SHY to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with SHY