Looking to diversify beyond FPA? The ETFs below have the lowest correlation with FPA — 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 FPA.
Best Diversifiers for FPA
468 ETFs have low correlation with FPA (below 0.3), 57 of which are negatively correlated. The least correlated is ProShares Short Bitcoin ETF (BITI) (Cryptocurrency) with a 1Y correlation of -0.37, roughly unchanged from -0.30 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.37 | -0.30 | -0.30 | 57 | Cryptocurrency | FPA vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.37 | -0.35 | -0.35 | 52 | Cryptocurrency, Leveraged Cryptocurrency | FPA vs SBIT | |
| Invesco DB US Dollar Index Bullish Fund | -0.35 | -0.40 | -0.38 | 51 | Currency | FPA vs UUP | |
| Defiance Daily Target 2X Short MSTR ETF | -0.35 | -0.31 | -0.31 | 53 | Inverse Equities | FPA vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.34 | -0.30 | -0.30 | 68 | Inverse Equities, Leveraged Equities | FPA vs MSTZ |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FPA, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FPA and solid risk/return profiles. The least correlated is Macy's, Inc. (M) (Consumer Cyclical) with a 1Y correlation of 0.19, roughly unchanged from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Macy's, Inc. | 0.19 | 0.21 | 0.22 | 89 | Consumer Cyclical | |
| Lumentum Holdings Inc. | 0.27 | 0.32 | 0.31 | 99 | Technology | |
| Coherent Corp. | 0.43 | 0.39 | 0.38 | 95 | Technology | |
| Sandisk Corporation | 0.47 | — | — | 100 | Technology | |
| Micron Technology, Inc. | 0.50 | 0.39 | 0.37 | 99 | Technology |
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Build a portfolio that complements FPA
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Analyze a portfolio with FPA