Looking to diversify beyond FMNY? The ETFs below have historically moved differently from FMNY, 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 FMNY
2054 ETFs have low correlation with FMNY (below 0.3), 131 of which are negatively correlated. The least correlated is United States Brent Oil Fund LP (BNO) (Oil & Gas) with a 1Y correlation of -0.28, down from -0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Brent Oil Fund LP | -0.28 | -0.13 | -0.09 | 52 | Oil & Gas | FMNY vs BNO | |
| Invesco DB Energy Fund | -0.28 | -0.13 | -0.09 | 72 | Oil & Gas | FMNY vs DBE | |
| United States Gasoline Fund LP | -0.27 | -0.11 | -0.08 | 87 | Oil & Gas | FMNY vs UGA | |
| United States Oil Fund LP | -0.26 | -0.13 | -0.09 | 55 | Oil & Gas | FMNY vs USO | |
| Invesco DB Oil Fund | -0.25 | -0.12 | -0.08 | 58 | Oil & Gas | FMNY vs DBO |
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