Looking to diversify beyond DON? The ETFs below have historically moved differently from DON, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for DON
408 ETFs have low correlation with DON (below 0.3), 50 of which are negatively correlated. The least correlated is ProShares Short Bitcoin ETF (BITI) (Cryptocurrency) with a 1Y correlation of -0.26, roughly unchanged from -0.29 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.26 | -0.29 | — | 51 | Cryptocurrency | DON vs BITI | |
| Invesco DB Energy Fund | -0.23 | -0.03 | 0.15 | 66 | Oil & Gas | DON vs DBE | |
| YieldMax MSTR Short Option Income Strategy ETF | -0.23 | — | — | 69 | Derivative Income | DON vs WNTR | |
| Invesco DB Oil Fund | -0.20 | -0.00 | 0.15 | 51 | Oil & Gas | DON vs DBO | |
| FolioBeyond Alternative Income and Interest Rate H... | -0.20 | -0.12 | -0.04 | 51 | Nontraditional Bonds | DON vs RISR |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for DON, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of 0.01, down from 0.30 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | 0.01 | 0.18 | 0.30 | 66 | Consumer Defensive | |
| Chevron Corporation | 0.04 | 0.27 | 0.38 | 79 | Energy | |
| The Coca-Cola Company | 0.08 | 0.22 | 0.33 | 87 | Consumer Defensive | |
| Johnson & Johnson | 0.12 | 0.23 | 0.25 | 96 | Healthcare | |
| Enbridge Inc. | 0.14 | 0.37 | 0.51 | 82 | Energy |
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