Looking to diversify beyond FLJP? The ETFs below have the lowest correlation with FLJP — 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 FLJP.
Best Diversifiers for FLJP
397 ETFs have low correlation with FLJP (below 0.3), 67 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.39, down from -0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.39 | -0.27 | -0.27 | 61 | Leveraged Currency | FLJP vs YCS | |
| Invesco DB Energy Fund | -0.30 | -0.06 | 0.06 | 71 | Oil & Gas | FLJP vs DBE | |
| United States Brent Oil Fund LP | -0.30 | -0.06 | 0.06 | 65 | Oil & Gas | FLJP vs BNO | |
| United States Oil Fund LP | -0.29 | -0.05 | 0.07 | 66 | Oil & Gas | FLJP vs USO | |
| Invesco DB Oil Fund | -0.27 | -0.02 | 0.09 | 65 | Oil & Gas | FLJP vs DBO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FLJP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FLJP and solid risk/return profiles. The least correlated is First Solar, Inc. (FSLR) (Technology) with a 1Y correlation of 0.22, roughly unchanged from 0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| First Solar, Inc. | 0.22 | 0.25 | 0.28 | 81 | Technology | |
| AST SpaceMobile, Inc. | 0.25 | 0.26 | 0.29 | 91 | Communication Services | |
| Amazon.com, Inc | 0.28 | 0.36 | 0.42 | 60 | Consumer Cyclical | |
| NVIDIA Corporation | 0.31 | 0.35 | 0.43 | 78 | Technology | |
| Rocket Lab USA, Inc. | 0.31 | 0.31 | — | 93 | Industrials |
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