Looking to diversify beyond SPY? The ETFs below have the lowest correlation with SPY — 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 SPY.
Best Diversifiers for SPY
227 ETFs have low correlation with SPY (below 0.3), 29 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| YieldMax Short MSTR Option Income Strategy ETF | -0.47 | — | — | 51 | Derivative Income | SPY vs WNTR | |
| United States Gasoline Fund LP | -0.24 | -0.05 | 0.08 | 60 | Oil & Gas | SPY vs UGA | |
| iShares iBonds Oct 2026 Term TIPS ETF | -0.21 | — | — | 98 | Inflation-Protected Bonds | SPY vs IBIC | |
| F/m Ultrashort Treasury Inflation-Protected Securi... | -0.19 | — | — | 97 | Inflation-Protected Bonds | SPY vs RBIL | |
| ProShares UltraShort Yen | -0.18 | -0.03 | -0.02 | 73 | Leveraged Currency | SPY vs YCS |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SPY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SPY and solid risk/return profiles. The least correlated is Consolidated Edison, Inc. (ED) (Utilities) with a 1Y correlation of -0.29, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Consolidated Edison, Inc. | -0.29 | -0.07 | 0.10 | 66 | Utilities | |
| Altria Group, Inc. | -0.24 | -0.01 | 0.14 | 74 | Consumer Defensive | |
| CF Industries Holdings, Inc. | -0.21 | 0.06 | 0.16 | 51 | Basic Materials | |
| New Jersey Resources Corporation | -0.20 | 0.09 | 0.24 | 85 | Utilities | |
| Duke Energy Corporation | -0.18 | -0.01 | 0.14 | 64 | Utilities |
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