Looking to diversify beyond COLO? The ETFs below have the lowest correlation with COLO — 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 COLO.
Best Diversifiers for COLO
663 ETFs have low correlation with COLO (below 0.3), 53 of which are negatively correlated. The least correlated is ProShares Short Bitcoin ETF (BITI) (Cryptocurrency) with a 1Y correlation of -0.29, roughly unchanged from -0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.29 | -0.22 | -0.24 | 53 | Cryptocurrency | COLO vs BITI | |
| Defiance Daily Target 2X Short MSTR ETF | -0.27 | -0.28 | -0.28 | 56 | Inverse Equities | COLO vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.27 | -0.27 | -0.27 | 65 | Inverse Equities, Leveraged Equities | COLO vs MSTZ | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.26 | — | — | 70 | Derivative Income | COLO vs WNTR | |
| iShares iBonds Oct 2026 Term TIPS ETF | -0.16 | — | — | 98 | Inflation-Protected Bonds | COLO vs IBIC |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from COLO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to COLO and solid risk/return profiles. The least correlated is NextEra Energy, Inc. (NEE) (Utilities) with a 1Y correlation of 0.14, roughly unchanged from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NextEra Energy, Inc. | 0.14 | 0.17 | 0.19 | 73 | Utilities | |
| Amazon.com, Inc | 0.21 | 0.22 | 0.24 | 54 | Consumer Cyclical | |
| First Solar, Inc. | 0.21 | 0.30 | 0.27 | 67 | Technology | |
| Alphabet Inc. Class A | 0.23 | 0.20 | 0.25 | 96 | Communication Services | |
| Eaton Corporation plc | 0.24 | 0.27 | 0.30 | 61 | Industrials |
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