Looking to balance out your exposure to DX? The ETFs below have historically moved differently from DX, 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 DX
7 ETFs have low correlation with DX (below 0.3), 2 of which are negatively correlated. The least correlated is Global X MLP & Energy Infrastructure ETF (MLPX) (Infrastructure Equities) with a 1Y correlation of -0.01, down from 0.34 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X MLP & Energy Infrastructure ETF | -0.01 | 0.23 | 0.34 | 57 | Infrastructure Equities, MLPs | DX vs MLPX | |
| Alerian MLP ETF | -0.01 | 0.24 | 0.33 | 55 | MLPs | DX vs AMLP | |
| YieldMax AMD Option Income Strategy ETF | 0.18 | — | — | 81 | Derivative Income, Options Trading | DX vs AMDY | |
| Roundhill Innovation-100 0DTE Covered Call Strateg... | 0.24 | — | — | 58 | Derivative Income, Options Trading | DX vs QDTE | |
| Global X NASDAQ 100 Covered Call ETF | 0.26 | 0.30 | 0.38 | 83 | Nasdaq-100, Derivative Income | DX vs QYLD |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for DX, 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 Valero Energy Corporation (VLO) (Energy) with a 1Y correlation of -0.16, down from 0.14 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Valero Energy Corporation | -0.16 | 0.05 | 0.14 | 98 | Energy | |
| Kimbell Royalty Partners, LP | -0.14 | 0.11 | 0.18 | 52 | Energy | |
| Energy Transfer LP | -0.13 | 0.17 | 0.26 | 82 | Energy | |
| Devon Energy Corporation | -0.13 | 0.06 | 0.16 | 71 | Energy | |
| Petróleo Brasileiro S.A. - Petrobras | -0.09 | 0.11 | 0.14 | 79 | Energy |
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