Looking to diversify beyond FCAL? The ETFs below have historically moved differently from FCAL, 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 FCAL
1859 ETFs have low correlation with FCAL (below 0.3), 115 of which are negatively correlated. The least correlated is Invesco DB Energy Fund (DBE) (Oil & Gas) with a 1Y correlation of -0.30, down from -0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Energy Fund | -0.30 | -0.13 | -0.07 | 72 | Oil & Gas | FCAL vs DBE | |
| Invesco Optimum Yield Diversified Commodity Strate... | -0.30 | -0.10 | -0.04 | 72 | Commodities | FCAL vs PDBC | |
| Invesco DB Commodity Index Tracking Fund | -0.30 | -0.10 | -0.04 | 71 | Commodities | FCAL vs DBC | |
| iShares S&P GSCI Commodity-Indexed Trust | -0.29 | -0.11 | -0.05 | 67 | Commodities | FCAL vs GSG | |
| Invesco DB Oil Fund | -0.29 | -0.12 | -0.07 | 58 | Oil & Gas | FCAL vs DBO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FCAL, 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 Callaway Golf Company (CALY) (Consumer Cyclical) with a 1Y correlation of 0.09, roughly unchanged from 0.08 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Callaway Golf Company | 0.09 | 0.08 | 0.08 | 90 | Consumer Cyclical |
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