Looking to diversify beyond GDX? The ETFs below have historically moved differently from GDX, 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 GDX
663 ETFs have low correlation with GDX (below 0.3), 65 of which are negatively correlated. The least correlated is ProShares Short Bitcoin ETF (BITI) (Cryptocurrency) with a 1Y correlation of -0.31, down from -0.17 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.31 | -0.17 | — | 51 | Cryptocurrency | GDX vs BITI | |
| YieldMax MSTR Short Option Income Strategy ETF | -0.29 | — | — | 69 | Derivative Income | GDX vs WNTR | |
| FolioBeyond Alternative Income and Interest Rate H... | -0.28 | -0.19 | -0.19 | 51 | Nontraditional Bonds | GDX vs RISR | |
| Invesco DB Energy Fund | -0.24 | -0.02 | 0.09 | 66 | Oil & Gas | GDX vs DBE | |
| United States Gasoline Fund, LP | -0.20 | -0.01 | 0.08 | 83 | Oil & Gas | GDX vs UGA |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for GDX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.17, down from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.17 | 0.01 | 0.09 | 66 | Consumer Defensive | |
| Enterprise Products Partners L.P. | -0.14 | 0.07 | 0.19 | 89 | Energy | |
| Chubb Limited | -0.13 | 0.00 | 0.07 | 87 | Financial Services | |
| ConocoPhillips Company | -0.13 | 0.02 | 0.14 | 73 | Energy | |
| Cboe Global Markets, Inc. | -0.11 | -0.02 | 0.04 | 62 | Financial Services |
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