Looking to diversify beyond GDX? The ETFs below have the lowest correlation with GDX — 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 GDX.
Best Diversifiers for GDX
554 ETFs have low correlation with GDX (below 0.3), 30 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.22, up from -0.32 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.22 | -0.26 | -0.32 | 63 | Leveraged Currency | GDX vs YCS | |
| F/m Ultrashort Treasury Inflation-Protected Securi... | -0.21 | — | — | 97 | Inflation-Protected Bonds | GDX vs RBIL | |
| United States Gasoline Fund LP | -0.20 | 0.00 | 0.09 | 55 | Oil & Gas | GDX vs UGA | |
| iShares iBonds Oct 2026 Term TIPS ETF | -0.16 | — | — | 98 | Inflation-Protected Bonds | GDX vs IBIC | |
| TCW AAA CLO ETF | -0.12 | — | — | 99 | CLO | GDX vs ACLO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from GDX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to GDX and solid risk/return profiles. The least correlated is Exxon Mobil Corporation (XOM) (Energy) with a 1Y correlation of -0.10, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | -0.10 | 0.06 | 0.17 | 72 | Energy | |
| ConocoPhillips Company | -0.10 | 0.05 | 0.16 | 65 | Energy | |
| Chevron Corporation | -0.08 | 0.08 | 0.18 | 70 | Energy | |
| Enterprise Products Partners L.P. | -0.08 | 0.11 | 0.21 | 85 | Energy | |
| YPF Sociedad Anónima | -0.07 | 0.12 | 0.17 | 67 | Energy |
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Build a portfolio that complements GDX
Add GDX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
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