Looking to diversify beyond SHYG? The ETFs below have the lowest correlation with SHYG — 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 SHYG.
Best Diversifiers for SHYG
194 ETFs have low correlation with SHYG (below 0.3), 62 of which are negatively correlated. The least correlated is United States Brent Oil Fund LP (BNO) (Oil & Gas) with a 1Y correlation of -0.37, down from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Brent Oil Fund LP | -0.37 | -0.09 | 0.05 | 65 | Oil & Gas | SHYG vs BNO | |
| United States Oil Fund LP | -0.37 | -0.08 | 0.05 | 66 | Oil & Gas | SHYG vs USO | |
| ProShares UltraShort Yen | -0.37 | -0.24 | -0.21 | 61 | Leveraged Currency | SHYG vs YCS | |
| Invesco DB Energy Fund | -0.37 | -0.09 | 0.06 | 71 | Oil & Gas | SHYG vs DBE | |
| Invesco DB Oil Fund | -0.35 | -0.07 | 0.06 | 65 | Oil & Gas | SHYG vs DBO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SHYG, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SHYG and solid risk/return profiles. The least correlated is Exxon Mobil Corporation (XOM) (Energy) with a 1Y correlation of -0.14, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | -0.14 | 0.05 | 0.15 | 85 | Energy | |
| ConocoPhillips Company | -0.13 | 0.05 | 0.16 | 76 | Energy | |
| Altria Group, Inc. | -0.12 | 0.08 | 0.16 | 69 | Consumer Defensive | |
| Chevron Corporation | -0.10 | 0.06 | 0.17 | 83 | Energy | |
| Energy Transfer LP | -0.07 | 0.23 | 0.29 | 69 | Energy |
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