Looking to diversify beyond FLSP? The ETFs below have the lowest correlation with FLSP — 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 FLSP.
Best Diversifiers for FLSP
2045 ETFs have low correlation with FLSP (below 0.3), 609 of which are negatively correlated. The least correlated is BNY Mellon Ultra Short Income ETF (BKUI) (Ultrashort Bond) with a 1Y correlation of -0.17, down from -0.07 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BNY Mellon Ultra Short Income ETF | -0.17 | -0.07 | — | 99 | Ultrashort Bond | FLSP vs BKUI | |
| PIMCO Enhanced Low Duration Active ETF | -0.17 | -0.06 | -0.07 | 94 | Short-Term Bond | FLSP vs LDUR | |
| iShares iBonds 1-5 Year TIPS Ladder ETF | -0.17 | — | — | 85 | Inflation-Protected Bonds | FLSP vs LDRI | |
| Goldman Sachs Municipal Income ETF | -0.17 | — | — | 82 | Municipal Bonds | FLSP vs GMUB | |
| NYLI MacKay Muni Short Duration ETF | -0.16 | -0.13 | -0.13 | 83 | Municipal Bonds | FLSP vs MMSD |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FLSP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FLSP and solid risk/return profiles. The least correlated is Cohen & Steers Quality Income Realty Fund, Inc. (RQI) (Financial Services) with a 1Y correlation of 0.06, roughly unchanged from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cohen & Steers Quality Income Realty Fund, Inc. | 0.06 | 0.03 | 0.07 | 61 | Financial Services | |
| Cohen & Steers Infrastructure Fund, Inc | 0.16 | 0.06 | 0.08 | 73 | Financial Services |
Build a portfolio that complements FLSP
Add FLSP to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with FLSP