Looking to diversify beyond FRDM? The ETFs below have the lowest correlation with FRDM — 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 FRDM.
Best Diversifiers for FRDM
395 ETFs have low correlation with FRDM (below 0.3), 72 of which are negatively correlated. The least correlated is ProShares Short Bitcoin ETF (BITI) (Cryptocurrency) with a 1Y correlation of -0.41, down from -0.31 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.41 | -0.31 | — | 57 | Cryptocurrency | FRDM vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.41 | — | — | 52 | Cryptocurrency, Leveraged Cryptocurrency | FRDM vs SBIT | |
| Invesco DB US Dollar Index Bullish Fund | -0.40 | -0.42 | -0.49 | 51 | Currency | FRDM vs UUP | |
| Defiance Daily Target 2X Short MSTR ETF | -0.35 | — | — | 60 | Inverse Equities | FRDM vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.35 | — | — | 68 | Inverse Equities, Leveraged Equities | FRDM vs MSTZ |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FRDM, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FRDM and solid risk/return profiles. The least correlated is Waste Management, Inc. (WM) (Industrials) with a 1Y correlation of -0.31, down from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Waste Management, Inc. | -0.31 | -0.07 | 0.06 | 53 | Industrials | |
| Duke Energy Corporation | -0.22 | -0.06 | 0.03 | 66 | Utilities | |
| Altria Group, Inc. | -0.21 | -0.04 | 0.05 | 81 | Consumer Defensive | |
| Occidental Petroleum Corporation | -0.19 | 0.06 | 0.22 | 62 | Energy | |
| Exxon Mobil Corporation | -0.19 | 0.01 | 0.19 | 75 | Energy |
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Build a portfolio that complements FRDM
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Analyze a portfolio with FRDM