Looking to diversify beyond CARZ? The ETFs below have the lowest correlation with CARZ — 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 CARZ.
Best Diversifiers for CARZ
416 ETFs have low correlation with CARZ (below 0.3), 73 of which are negatively correlated. The least correlated is United States Oil Fund LP (USO) (Oil & Gas) with a 1Y correlation of -0.28, down from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.28 | -0.02 | 0.08 | 66 | Oil & Gas | CARZ vs USO | |
| Invesco DB Energy Fund | -0.27 | -0.03 | 0.09 | 71 | Oil & Gas | CARZ vs DBE | |
| Defiance Oil Enhanced Options Income ETF | -0.26 | -0.03 | -0.03 | 56 | Derivative Income | CARZ vs USOY | |
| United States Brent Oil Fund LP | -0.25 | -0.01 | 0.09 | 65 | Oil & Gas | CARZ vs BNO | |
| United States Gasoline Fund LP | -0.23 | -0.03 | 0.08 | 71 | Oil & Gas | CARZ vs UGA |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CARZ, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CARZ and solid risk/return profiles. The least correlated is Ally Financial Inc. (ALLY) (Financial Services) with a 1Y correlation of 0.37, down from 0.52 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Ally Financial Inc. | 0.37 | 0.43 | 0.52 | 62 | Financial Services | |
| General Motors Company | 0.38 | 0.42 | 0.55 | 88 | Consumer Cyclical | |
| Tesla, Inc. | 0.56 | 0.59 | 0.61 | 55 | Consumer Cyclical |
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