Looking to diversify beyond FPX? The ETFs below have the lowest correlation with FPX — 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 FPX.
Best Diversifiers for FPX
424 ETFs have low correlation with FPX (below 0.3), 41 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Defiance Daily Target 2X Short MSTR ETF | -0.50 | — | — | 59 | Inverse Equities | FPX vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.49 | — | — | 65 | Inverse Equities, Leveraged Equities | FPX vs MSTZ | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.46 | — | — | 64 | Derivative Income | FPX vs WNTR | |
| Brookstone Ultra-Short Bond ETF | -0.16 | — | — | 99 | Ultrashort Bond | FPX vs BAMU | |
| United States Gasoline Fund LP | -0.15 | -0.01 | 0.09 | 64 | Oil & Gas | FPX vs UGA |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FPX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FPX and solid risk/return profiles. The least correlated is Tesla, Inc. (TSLA) (Consumer Cyclical) with a 1Y correlation of 0.46, roughly unchanged from 0.55 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Tesla, Inc. | 0.46 | 0.50 | 0.55 | 55 | Consumer Cyclical | |
| SoftBank Group Corp. | 0.48 | 0.51 | 0.51 | 81 | Communication Services | |
| NVIDIA Corporation | 0.50 | 0.54 | 0.64 | 64 | Technology | |
| Advantest Corp DRC | 0.58 | 0.50 | 0.50 | 90 | Technology | |
| BlackRock Science and Technology Trust | 0.64 | 0.68 | 0.75 | 86 | Financial Services |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements FPX
Add FPX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with FPX