Looking to diversify beyond FMED? The ETFs below have historically moved differently from FMED, 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 FMED
512 ETFs have low correlation with FMED (below 0.3), 105 of which are negatively correlated. The least correlated is United States Oil Fund LP (USO) (Oil & Gas) with a 1Y correlation of -0.31, down from -0.16 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.31 | -0.16 | — | 55 | Oil & Gas | FMED vs USO | |
| United States Brent Oil Fund LP | -0.30 | -0.15 | — | 52 | Oil & Gas | FMED vs BNO | |
| Invesco DB Energy Fund | -0.30 | -0.16 | — | 72 | Oil & Gas | FMED vs DBE | |
| United States Gasoline Fund LP | -0.27 | -0.13 | — | 87 | Oil & Gas | FMED vs UGA | |
| Invesco DB Oil Fund | -0.27 | -0.13 | — | 58 | Oil & Gas | FMED vs DBO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FMED, 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 Mueller Industries, Inc. (MLI) (Industrials) with a 1Y correlation of 0.27, down from 0.41 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Mueller Industries, Inc. | 0.27 | 0.41 | — | 86 | Industrials | |
| Definium Therapeutics, Inc | 0.38 | 0.42 | — | 99 | Healthcare | |
| Alkermes plc | 0.40 | 0.41 | — | 91 | Healthcare | |
| COMPASS Pathways plc | 0.42 | 0.42 | — | 91 | Healthcare |
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