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
132 ETFs have low correlation with SHYG (below 0.3), 30 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.38, down from -0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.38 | -0.24 | -0.22 | 63 | Leveraged Currency | SHYG vs YCS | |
| United States Gasoline Fund LP | -0.32 | -0.07 | 0.04 | 55 | Oil & Gas | SHYG vs UGA | |
| VanEck Commodity Strategy ETF | -0.16 | 0.02 | — | 57 | Commodities | SHYG vs PIT | |
| iShares iBonds Oct 2026 Term TIPS ETF | -0.15 | — | — | 98 | Inflation-Protected Bonds | SHYG vs IBIC | |
| First Trust Alternative Absolute Return Strategy E... | -0.14 | -0.03 | -0.01 | 75 | Commodities | SHYG vs FAAR |
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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 | 0.03 | 0.14 | 72 | Energy | |
| ConocoPhillips Company | -0.15 | 0.04 | 0.15 | 65 | Energy | |
| Altria Group, Inc. | -0.14 | 0.06 | 0.15 | 72 | Consumer Defensive | |
| Chevron Corporation | -0.13 | 0.05 | 0.16 | 70 | Energy | |
| The Coca-Cola Company | -0.07 | 0.08 | 0.21 | 74 | Consumer Defensive |
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Build a portfolio that complements SHYG
Add SHYG to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with SHYG