Looking to diversify beyond FEZ? The ETFs below have historically moved differently from FEZ, 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 FEZ
308 ETFs have low correlation with FEZ (below 0.3), 90 of which are negatively correlated. The least correlated is ProShares Short Bitcoin ETF (BITI) (Cryptocurrency) with a 1Y correlation of -0.40, roughly unchanged from -0.33 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.40 | -0.33 | — | 61 | Cryptocurrency | FEZ vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.40 | — | — | 55 | Cryptocurrency, Leveraged Cryptocurrency | FEZ vs SBIT | |
| Invesco DB Energy Fund | -0.38 | -0.13 | 0.04 | 72 | Oil & Gas | FEZ vs DBE | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.37 | -0.35 | -0.35 | 61 | Inverse Equities, Leveraged Equities | FEZ vs MSTZ | |
| United States Oil Fund LP | -0.36 | -0.12 | 0.03 | 55 | Oil & Gas | FEZ vs USO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FEZ, 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 Devon Energy Corporation (DVN) (Energy) with a 1Y correlation of -0.23, down from 0.21 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Devon Energy Corporation | -0.23 | 0.06 | 0.21 | 76 | Energy | |
| ConocoPhillips Company | -0.22 | 0.01 | 0.16 | 72 | Energy | |
| Occidental Petroleum Corporation | -0.21 | 0.02 | 0.17 | 70 | Energy | |
| Chevron Corporation | -0.19 | 0.02 | 0.16 | 80 | Energy | |
| Exxon Mobil Corporation | -0.18 | 0.03 | 0.17 | 84 | Energy |
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