Looking to diversify beyond FPE? The ETFs below have the lowest correlation with FPE — 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 FPE.
Best Diversifiers for FPE
192 ETFs have low correlation with FPE (below 0.3), 40 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.29, roughly unchanged from -0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.29 | -0.25 | -0.21 | 63 | Leveraged Currency | FPE vs YCS | |
| United States Gasoline Fund LP | -0.24 | -0.05 | 0.02 | 55 | Oil & Gas | FPE vs UGA | |
| F/m Ultrashort Treasury Inflation-Protected Securi... | -0.20 | -0.16 | -0.16 | 97 | Inflation-Protected Bonds | FPE vs RBIL | |
| iShares iBonds Oct 2026 Term TIPS ETF | -0.19 | 0.10 | 0.10 | 98 | Inflation-Protected Bonds | FPE vs IBIC | |
| WisdomTree Floating Rate Treasury Fund | -0.13 | -0.05 | 0.01 | 100 | Government Bonds, Ultrashort Bond | FPE vs USFR |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FPE, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FPE and solid risk/return profiles. The least correlated is Permian Resources Corporation (PR) (Energy) with a 1Y correlation of -0.05, down from 0.14 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Permian Resources Corporation | -0.05 | 0.14 | — | 75 | Energy | |
| Verizon Communications Inc. | -0.03 | 0.10 | 0.14 | 66 | Communication Services | |
| The Coca-Cola Company | -0.02 | 0.10 | 0.17 | 74 | Consumer Defensive | |
| Johnson & Johnson | 0.04 | 0.09 | 0.14 | 96 | Healthcare | |
| Merck & Co., Inc. | 0.11 | 0.08 | 0.08 | 89 | Healthcare |
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Build a portfolio that complements FPE
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