Looking to diversify beyond FCAL? The ETFs below have the lowest correlation with FCAL — 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 FCAL.
Best Diversifiers for FCAL
1736 ETFs have low correlation with FCAL (below 0.3), 94 of which are negatively correlated. The least correlated is Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) (Commodities) with a 1Y correlation of -0.27, down from -0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco Optimum Yield Diversified Commodity Strate... | -0.27 | -0.08 | -0.04 | 55 | Commodities | FCAL vs PDBC | |
| iShares S&P GSCI Commodity-Indexed Trust | -0.27 | -0.09 | -0.05 | 51 | Commodities | FCAL vs GSG | |
| DoubleLine Commodity Strategy ETF | -0.26 | -0.11 | -0.11 | 51 | Commodities | FCAL vs DCMT | |
| Invesco DB Energy Fund | -0.26 | -0.11 | -0.06 | 53 | Oil & Gas | FCAL vs DBE | |
| Invesco DB Commodity Index Tracking Fund | -0.26 | -0.08 | -0.03 | 54 | Commodities | FCAL vs DBC |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FCAL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FCAL and solid risk/return profiles. The least correlated is Callaway Golf Company (CALY) (Consumer Cyclical) with a 1Y correlation of 0.07, roughly unchanged from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Callaway Golf Company | 0.07 | 0.07 | 0.08 | 90 | Consumer Cyclical |
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