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
164 ETFs have low correlation with SHYG (below 0.3), 64 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T-REX 2X Inverse MSTR Daily Target ETF | -0.46 | — | — | 65 | Inverse Equities, Leveraged Equities | SHYG vs MSTZ | |
| ProShares Short Bitcoin ETF | -0.44 | -0.33 | — | 53 | Cryptocurrency | SHYG vs BITI | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.43 | — | — | 70 | Derivative Income | SHYG vs WNTR | |
| ProShares UltraShort Yen | -0.35 | -0.24 | -0.22 | 72 | Leveraged Currency | SHYG vs YCS | |
| Invesco DB Energy Fund | -0.33 | -0.09 | 0.06 | 57 | Oil & Gas | SHYG vs DBE |
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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 -0.17, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | -0.17 | 0.02 | 0.14 | 76 | Energy | |
| ConocoPhillips Company | -0.16 | 0.03 | 0.15 | 66 | Energy | |
| Occidental Petroleum Corporation | -0.15 | 0.06 | 0.17 | 64 | Energy | |
| Devon Energy Corporation | -0.14 | 0.10 | 0.20 | 73 | Energy | |
| Altria Group, Inc. | -0.14 | 0.06 | 0.15 | 78 | Consumer Defensive |
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