Looking to diversify beyond FRI? The ETFs below have the lowest correlation with FRI — 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 FRI.
Best Diversifiers for FRI
916 ETFs have low correlation with FRI (below 0.3), 48 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.34, down from -0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.34 | -0.21 | -0.16 | 63 | Leveraged Currency | FRI vs YCS | |
| United States Brent Oil Fund LP | -0.18 | -0.08 | 0.03 | 65 | Oil & Gas | FRI vs BNO | |
| United States Oil Fund LP | -0.18 | -0.08 | 0.03 | 66 | Oil & Gas | FRI vs USO | |
| ProShares K-1 Free Crude Oil Strategy ETF | -0.18 | -0.06 | 0.04 | 56 | Oil & Gas | FRI vs OILK | |
| Invesco DB Energy Fund | -0.17 | -0.08 | 0.04 | 71 | Oil & Gas | FRI vs DBE |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FRI, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FRI and solid risk/return profiles. The least correlated is Welltower Inc. (WELL) (Real Estate) with a 1Y correlation of 0.55, roughly unchanged from 0.65 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Welltower Inc. | 0.55 | 0.63 | 0.65 | 75 | Real Estate | |
| W. P. Carey Inc. | 0.65 | 0.70 | 0.73 | 79 | Real Estate |
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