Looking to diversify beyond CLOI? The ETFs below have the lowest correlation with CLOI — 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 CLOI.
Best Diversifiers for CLOI
2046 ETFs have low correlation with CLOI (below 0.3), 95 of which are negatively correlated. The least correlated is Direxion Daily MU Bull 2X Shares (MUU) (Leveraged Equities) with a 1Y correlation of -0.15, roughly unchanged from -0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Direxion Daily MU Bull 2X Shares | -0.15 | -0.15 | -0.15 | 99 | Leveraged Equities, Semiconductors | CLOI vs MUU | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.15 | — | — | 68 | Inverse Equities, Leveraged Equities | CLOI vs MSTZ | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.14 | — | — | 70 | Derivative Income | CLOI vs WNTR | |
| Defiance Daily Target 2X Short MSTR ETF | -0.14 | — | — | 60 | Inverse Equities | CLOI vs SMST | |
| Fidelity Managed Futures ETF | -0.14 | — | — | 71 | Systematic Trend | CLOI vs FFUT |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CLOI, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CLOI and solid risk/return profiles. The least correlated is Ellington Financial Inc. (EFC) (Real Estate) with a 1Y correlation of 0.03, roughly unchanged from 0.03 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Ellington Financial Inc. | 0.03 | 0.03 | — | 67 | Real Estate | |
| DNP Select Income Fund Inc. | 0.04 | 0.03 | — | 93 | Financial Services | |
| Capital Southwest Corporation | 0.05 | 0.09 | 0.08 | 66 | Financial Services | |
| Eaton Vance Tax-Managed Buy-Write Opportunities Fu... | 0.08 | 0.07 | — | 82 | Financial Services | |
| BlackRock Capital Allocation Term Trust | 0.09 | 0.07 | — | 94 | Financial Services |
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