Looking to diversify beyond FDEV? The ETFs below have historically moved differently from FDEV, 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 FDEV
343 ETFs have low correlation with FDEV (below 0.3), 47 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.39, roughly unchanged from -0.30 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.39 | -0.34 | -0.30 | 56 | Leveraged Currency | FDEV vs YCS | |
| ProShares Short Bitcoin ETF | -0.36 | -0.26 | — | 61 | Cryptocurrency | FDEV vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.35 | -0.30 | -0.30 | 55 | Cryptocurrency, Leveraged Cryptocurrency | FDEV vs SBIT | |
| Defiance Daily Target 2X Short MSTR ETF | -0.34 | -0.28 | -0.28 | 52 | Inverse Equities | FDEV vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.33 | -0.27 | -0.27 | 61 | Inverse Equities, Leveraged Equities | FDEV vs MSTZ |
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