Looking to diversify beyond CHPX? The ETFs below have the lowest correlation with CHPX — 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 CHPX.
Best Diversifiers for CHPX
430 ETFs have low correlation with CHPX (below 0.3), 93 of which are negatively correlated. The least correlated is Invesco DB Energy Fund (DBE) (Oil & Gas) with a 1Y correlation of -0.30, roughly unchanged from -0.30 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Energy Fund | -0.30 | -0.30 | -0.30 | 71 | Oil & Gas | CHPX vs DBE | |
| United States Brent Oil Fund LP | -0.27 | -0.27 | -0.27 | 65 | Oil & Gas | CHPX vs BNO | |
| ProShares Ultra Bloomberg Crude Oil | -0.22 | -0.22 | -0.22 | 54 | Leveraged Commodities | CHPX vs UCO | |
| ProShares K-1 Free Crude Oil Strategy ETF | -0.22 | -0.22 | -0.22 | 55 | Oil & Gas | CHPX vs OILK | |
| United States 12 Month Oil Fund LP | -0.22 | -0.22 | -0.22 | 56 | Oil & Gas | CHPX vs USL |
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