Looking to diversify beyond FIDI? The ETFs below have historically moved differently from FIDI, 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 FIDI
352 ETFs have low correlation with FIDI (below 0.3), 33 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.41, down from -0.27 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.41 | -0.34 | -0.27 | 59 | Leveraged Currency | FIDI vs YCS | |
| ProShares Short Bitcoin ETF | -0.31 | -0.24 | — | 51 | Cryptocurrency | FIDI vs BITI | |
| YieldMax MSTR Short Option Income Strategy ETF | -0.24 | -0.27 | -0.27 | 69 | Derivative Income | FIDI vs WNTR | |
| FolioBeyond Alternative Income and Interest Rate H... | -0.24 | -0.16 | -0.10 | 51 | Nontraditional Bonds | FIDI vs RISR | |
| Invesco DB Energy Fund | -0.21 | -0.04 | 0.14 | 66 | Oil & Gas | FIDI vs DBE |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FIDI, 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 Occidental Petroleum Corporation (OXY) (Energy) with a 1Y correlation of 0.01, down from 0.28 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Occidental Petroleum Corporation | 0.01 | 0.15 | 0.28 | 68 | Energy | |
| Devon Energy Corporation | 0.01 | 0.18 | 0.31 | 78 | Energy | |
| Consolidated Edison, Inc. | 0.02 | 0.17 | 0.23 | 56 | Utilities | |
| ConocoPhillips Company | 0.03 | 0.14 | 0.31 | 73 | Energy | |
| Energy Transfer LP | 0.03 | 0.22 | 0.33 | 82 | Energy |
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