Looking to diversify beyond FGOV.L? The ETFs below have the lowest correlation with FGOV.L — 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 FGOV.L.
Best Diversifiers for FGOV.L
4 ETFs have low correlation with FGOV.L (below 0.3), 0 of which are negatively correlated. The least correlated is First Trust NYSE Arca Biotechnology UCITS ETF Acc (FBT.L) (Health & Biotech Equities) with a 1Y correlation of 0.02, roughly unchanged from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| First Trust NYSE Arca Biotechnology UCITS ETF Acc | 0.02 | 0.08 | 0.07 | 56 | Health & Biotech Equities | FGOV.L vs FBT.L | |
| First Trust US IPO Index UCITS ETF | 0.05 | 0.09 | 0.08 | 54 | Large Cap Growth Equities | FGOV.L vs FPX.L | |
| First Trust Nasdaq Clean Edge Green Energy UCITS E... | 0.09 | 0.09 | 0.07 | 90 | Energy Equities | FGOV.L vs QCLN.L | |
| First Trust Indxx Innovative Transaction & Process... | 0.14 | 0.14 | 0.09 | 80 | Technology Equities | FGOV.L vs BLOK.L |
Diversification Analysis
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