Looking to diversify beyond FXE? The ETFs below have the lowest correlation with FXE — 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 FXE.
Best Diversifiers for FXE
1210 ETFs have low correlation with FXE (below 0.3), 57 of which are negatively correlated. The least correlated is Invesco DB US Dollar Index Bullish Fund (UUP) (Currency) with a 1Y correlation of -0.97, roughly unchanged from -0.96 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB US Dollar Index Bullish Fund | -0.97 | -0.96 | -0.96 | 51 | Currency | FXE vs UUP | |
| ProShares UltraShort Yen | -0.62 | -0.51 | -0.47 | 72 | Leveraged Currency | FXE vs YCS | |
| TCW AAA CLO ETF | -0.34 | — | — | 99 | CLO | FXE vs ACLO | |
| United States Gasoline Fund LP | -0.25 | -0.10 | -0.01 | 78 | Oil & Gas | FXE vs UGA | |
| Invesco DB Energy Fund | -0.25 | -0.09 | 0.01 | 53 | Oil & Gas | FXE vs DBE |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FXE, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FXE and solid risk/return profiles. The least correlated is MP Materials Corp. (MP) (Basic Materials) with a 1Y correlation of 0.08, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| MP Materials Corp. | 0.08 | 0.14 | 0.19 | 51 | Basic Materials | |
| Tesla, Inc. | 0.18 | 0.13 | 0.15 | 63 | Consumer Cyclical | |
| Lloyds Banking Group plc | 0.42 | 0.35 | 0.36 | 84 | Financial Services |
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