Looking to diversify beyond FXA? The ETFs below have the lowest correlation with FXA — 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 FXA.
Best Diversifiers for FXA
442 ETFs have low correlation with FXA (below 0.3), 30 of which are negatively correlated. The least correlated is Invesco DB US Dollar Index Bullish Fund (UUP) (Currency) with a 1Y correlation of -0.68, roughly unchanged from -0.69 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB US Dollar Index Bullish Fund | -0.68 | -0.69 | -0.69 | 51 | Currency | FXA vs UUP | |
| ProShares UltraShort Yen | -0.41 | -0.41 | -0.38 | 72 | Leveraged Currency | FXA vs YCS | |
| ProShares Short Bitcoin ETF | -0.38 | -0.24 | — | 57 | Cryptocurrency | FXA vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.38 | — | — | 52 | Cryptocurrency, Leveraged Cryptocurrency | FXA vs SBIT | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.33 | — | — | 68 | Inverse Equities, Leveraged Equities | FXA vs MSTZ |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FXA, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FXA and solid risk/return profiles. The least correlated is BHP Group Limited (BHP) (Basic Materials) with a 1Y correlation of 0.58, roughly unchanged from 0.59 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| BHP Group Limited | 0.58 | 0.57 | 0.59 | 88 | Basic Materials |
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