Looking to diversify beyond ESML? The ETFs below have the lowest correlation with ESML — 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 ESML.
Best Diversifiers for ESML
356 ETFs have low correlation with ESML (below 0.3), 63 of which are negatively correlated. The least correlated is Invesco DB Energy Fund (DBE) (Oil & Gas) with a 1Y correlation of -0.26, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Energy Fund | -0.26 | -0.02 | 0.13 | 71 | Oil & Gas | ESML vs DBE | |
| United States Oil Fund LP | -0.26 | -0.01 | 0.13 | 66 | Oil & Gas | ESML vs USO | |
| United States Brent Oil Fund LP | -0.24 | -0.00 | 0.12 | 65 | Oil & Gas | ESML vs BNO | |
| Defiance Oil Enhanced Options Income ETF | -0.23 | -0.04 | -0.04 | 56 | Derivative Income | ESML vs USOY | |
| United States Gasoline Fund LP | -0.22 | -0.01 | 0.11 | 69 | Oil & Gas | ESML vs UGA |
See all 2113 diversifiers for ESML
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