Looking to diversify beyond FLMI? The ETFs below have historically moved differently from FLMI, 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 FLMI
1654 ETFs have low correlation with FLMI (below 0.3), 122 of which are negatively correlated. The least correlated is Invesco DB Energy Fund (DBE) (Oil & Gas) with a 1Y correlation of -0.39, down from -0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Energy Fund | -0.39 | -0.15 | -0.09 | 66 | Oil & Gas | FLMI vs DBE | |
| Invesco DB Oil Fund | -0.38 | -0.15 | -0.10 | 51 | Oil & Gas | FLMI vs DBO | |
| MicroSectors Energy 3X Leveraged ETN | -0.35 | -0.11 | — | 55 | Leveraged Equities | FLMI vs WTIU | |
| MicroSectors U.S. Big Oil Index 3X Leveraged ETN | -0.35 | — | — | 73 | Leveraged Equities | FLMI vs NRGU | |
| iShares S&P GSCI Commodity-Indexed Trust | -0.35 | -0.12 | -0.07 | 61 | Commodities | FLMI vs GSG |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FLMI, 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 Cencora Inc. (COR) (Healthcare) with a 1Y correlation of 0.00, roughly unchanged from 0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cencora Inc. | 0.00 | 0.07 | 0.02 | 50 | Healthcare | |
| McKesson Corporation | 0.02 | 0.01 | -0.01 | 62 | Healthcare | |
| Huntington Ingalls Industries, Inc | 0.05 | 0.08 | 0.05 | 61 | Industrials | |
| NVIDIA Corporation | 0.06 | 0.01 | 0.04 | 61 | Technology | |
| Quanta Services, Inc. | 0.09 | 0.06 | 0.04 | 87 | Industrials |
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