Looking to diversify beyond ESPO? The ETFs below have the lowest correlation with ESPO — 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 ESPO.
Best Diversifiers for ESPO
493 ETFs have low correlation with ESPO (below 0.3), 88 of which are negatively correlated. The least correlated is United States Oil Fund LP (USO) (Oil & Gas) with a 1Y correlation of -0.28, down from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.28 | -0.05 | 0.04 | 66 | Oil & Gas | ESPO vs USO | |
| United States Brent Oil Fund LP | -0.27 | -0.05 | 0.04 | 65 | Oil & Gas | ESPO vs BNO | |
| ProShares UltraShort Yen | -0.27 | -0.16 | -0.13 | 61 | Leveraged Currency | ESPO vs YCS | |
| Invesco DB Energy Fund | -0.27 | -0.05 | 0.05 | 71 | Oil & Gas | ESPO vs DBE | |
| Invesco DB Oil Fund | -0.25 | -0.03 | 0.05 | 65 | Oil & Gas | ESPO vs DBO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ESPO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ESPO and solid risk/return profiles. The least correlated is Atmos Energy Corporation (ATO) (Utilities) with a 1Y correlation of -0.03, down from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Atmos Energy Corporation | -0.03 | 0.06 | 0.08 | 60 | Utilities | |
| Walmart Inc. | -0.02 | 0.14 | 0.17 | 63 | Consumer Defensive | |
| WEC Energy Group, Inc. | -0.01 | -0.00 | 0.01 | 50 | Utilities | |
| AbbVie Inc. | 0.02 | 0.08 | 0.07 | 62 | Healthcare | |
| The Hershey Company | 0.02 | 0.04 | 0.00 | 55 | Consumer Defensive |
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