Looking to diversify beyond FXO? The ETFs below have historically moved differently from FXO, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for FXO
715 ETFs have low correlation with FXO (below 0.3), 59 of which are negatively correlated. The least correlated is Invesco DB Energy Fund (DBE) (Oil & Gas) with a 1Y correlation of -0.27, down from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Energy Fund | -0.27 | -0.09 | 0.10 | 66 | Oil & Gas | FXO vs DBE | |
| ProShares Short Bitcoin ETF | -0.26 | -0.29 | — | 51 | Cryptocurrency | FXO vs BITI | |
| Invesco DB Oil Fund | -0.25 | -0.06 | 0.10 | 51 | Oil & Gas | FXO vs DBO | |
| YieldMax MSTR Short Option Income Strategy ETF | -0.24 | — | — | 69 | Derivative Income | FXO vs WNTR | |
| United States Gasoline Fund, LP | -0.19 | -0.06 | 0.10 | 83 | Oil & Gas | FXO vs UGA |
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