Looking to diversify beyond COPX? The ETFs below have the lowest correlation with COPX — 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 COPX.
Best Diversifiers for COPX
440 ETFs have low correlation with COPX (below 0.3), 36 of which are negatively correlated. The least correlated is Invesco DB US Dollar Index Bullish Fund (UUP) (Currency) with a 1Y correlation of -0.46, roughly unchanged from -0.46 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB US Dollar Index Bullish Fund | -0.46 | -0.42 | -0.46 | 51 | Currency | COPX vs UUP | |
| Proshares Ultrashort Bitcoin ETF | -0.37 | -0.29 | -0.29 | 52 | Cryptocurrency, Leveraged Cryptocurrency | COPX vs SBIT | |
| ProShares Short Bitcoin ETF | -0.37 | -0.27 | -0.31 | 57 | Cryptocurrency | COPX vs BITI | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.31 | -0.30 | -0.30 | 68 | Inverse Equities, Leveraged Equities | COPX vs MSTZ | |
| Defiance Daily Target 2X Short MSTR ETF | -0.31 | -0.31 | -0.31 | 60 | Inverse Equities | COPX vs SMST |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from COPX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to COPX and solid risk/return profiles. The least correlated is Waste Management, Inc. (WM) (Industrials) with a 1Y correlation of -0.18, down from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Waste Management, Inc. | -0.18 | -0.07 | 0.06 | 53 | Industrials | |
| Consolidated Edison, Inc. | -0.18 | -0.04 | 0.03 | 70 | Utilities | |
| Cheniere Energy, Inc. | -0.16 | 0.09 | 0.24 | 58 | Energy | |
| The Allstate Corporation | -0.14 | -0.03 | 0.12 | 84 | Financial Services | |
| Chubb Limited | -0.14 | -0.07 | 0.10 | 86 | Financial Services |
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