Looking to balance out your exposure to FPI? The ETFs below have the lowest correlation with FPI — they tend to move on their own, which can help reduce risk when FPI drops. The stock ideas table highlights individual companies that behave independently from FPI.
Best Diversifiers for FPI
28 ETFs have low correlation with FPI (below 0.3), 3 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.04, roughly unchanged from 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.04 | -0.01 | 0.01 | 100 | Ultrashort Bond | FPI vs SGOV | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.02 | 0.00 | -0.01 | 100 | Government Bonds, Ultrashort Bond | FPI vs BIL | |
| WisdomTree Floating Rate Treasury Fund | -0.01 | 0.05 | -0.00 | 100 | Government Bonds, Ultrashort Bond | FPI vs USFR | |
| abrdn Bloomberg All Commodity Strategy K-1 Free ET... | 0.01 | 0.08 | 0.17 | 55 | Commodities | FPI vs BCI | |
| State Street Energy Select Sector SPDR ETF | 0.04 | 0.18 | 0.27 | 50 | Energy Equities | FPI vs XLE |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FPI, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FPI and solid risk/return profiles. The least correlated is Micron Technology, Inc. (MU) (Technology) with a 1Y correlation of -0.02, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Micron Technology, Inc. | -0.02 | 0.11 | 0.17 | 99 | Technology | |
| Advanced Micro Devices, Inc. | 0.01 | 0.11 | 0.19 | 97 | Technology | |
| BlackRock Science and Technology Term Trust | 0.01 | 0.18 | 0.26 | 93 | Financial Services | |
| Chevron Corporation | 0.02 | 0.16 | 0.24 | 70 | Energy | |
| Eli Lilly and Company | 0.07 | 0.08 | 0.12 | 80 | Healthcare |
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Build a portfolio that complements FPI
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