Looking to diversify beyond FPA? The ETFs below have historically moved differently from FPA, 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 FPA
608 ETFs have low correlation with FPA (below 0.3), 83 of which are negatively correlated. The least correlated is ProShares Short Bitcoin ETF (BITI) (Cryptocurrency) with a 1Y correlation of -0.38, roughly unchanged from -0.30 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.38 | -0.30 | — | 61 | Cryptocurrency | FPA vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.38 | — | — | 55 | Cryptocurrency, Leveraged Cryptocurrency | FPA vs SBIT | |
| Defiance Daily Target 2X Short MSTR ETF | -0.34 | — | — | 52 | Inverse Equities | FPA vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.34 | — | — | 61 | Inverse Equities, Leveraged Equities | FPA vs MSTZ | |
| YieldMax MSTR Short Option Income Strategy ETF | -0.33 | — | — | 75 | Derivative Income | FPA vs WNTR |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FPA, 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 Macy's, Inc. (M) (Consumer Cyclical) with a 1Y correlation of 0.17, roughly unchanged from 0.23 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Macy's, Inc. | 0.17 | 0.21 | 0.23 | 92 | Consumer Cyclical | |
| Lumentum Holdings Inc. | 0.34 | 0.34 | 0.32 | 98 | Technology | |
| Coherent Corp. | 0.47 | 0.41 | 0.39 | 87 | Technology | |
| Sandisk Corporation | 0.52 | — | — | 100 | Technology | |
| Micron Technology, Inc. | 0.57 | 0.42 | 0.39 | 99 | Technology |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements FPA
Add FPA to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with FPA