Looking to diversify beyond SHYG? The ETFs below have historically moved differently from SHYG, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for SHYG
180 ETFs have low correlation with SHYG (below 0.3), 69 of which are negatively correlated.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| YieldMax MSTR Short Option Income Strategy ETF | -0.44 | — | — | 63 | Derivative Income | SHYG vs WNTR | |
| Invesco DB Energy Fund | -0.35 | -0.11 | 0.05 | 53 | Oil & Gas | SHYG vs DBE | |
| ProShares UltraShort Yen | -0.35 | -0.24 | -0.22 | 59 | Leveraged Currency | SHYG vs YCS | |
| United States Gasoline Fund, LP | -0.30 | -0.10 | 0.04 | 74 | Oil & Gas | SHYG vs UGA | |
| iShares S&P GSCI Commodity-Indexed Trust | -0.28 | -0.03 | 0.09 | 50 | Commodities | SHYG vs GSG |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for SHYG, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Exxon Mobil Corporation (XOM) (Energy) with a 1Y correlation of -0.23, down from 0.14 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | -0.23 | 0.01 | 0.14 | 85 | Energy | |
| Occidental Petroleum Corporation | -0.22 | 0.04 | 0.17 | 68 | Energy | |
| ConocoPhillips Company | -0.22 | 0.01 | 0.15 | 71 | Energy | |
| Devon Energy Corporation | -0.19 | 0.07 | 0.18 | 76 | Energy | |
| Chevron Corporation | -0.16 | 0.01 | 0.14 | 76 | Energy |
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