Looking to diversify beyond GDXJ? The ETFs below have the lowest correlation with GDXJ — 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 GDXJ.
Best Diversifiers for GDXJ
567 ETFs have low correlation with GDXJ (below 0.3), 48 of which are negatively correlated. The least correlated is Invesco DB US Dollar Index Bullish Fund (UUP) (Currency) with a 1Y correlation of -0.44, roughly unchanged from -0.49 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB US Dollar Index Bullish Fund | -0.44 | -0.46 | -0.49 | 51 | Currency | GDXJ vs UUP | |
| Proshares Ultrashort Bitcoin ETF | -0.33 | — | — | 52 | Cryptocurrency, Leveraged Cryptocurrency | GDXJ vs SBIT | |
| ProShares Short Bitcoin ETF | -0.33 | -0.19 | — | 57 | Cryptocurrency | GDXJ vs BITI | |
| Defiance Daily Target 2X Short MSTR ETF | -0.31 | — | — | 60 | Inverse Equities | GDXJ vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.31 | — | — | 68 | Inverse Equities, Leveraged Equities | GDXJ vs MSTZ |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from GDXJ, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to GDXJ and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.13, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.13 | 0.01 | 0.10 | 81 | Consumer Defensive | |
| ConocoPhillips Company | -0.12 | 0.04 | 0.17 | 66 | Energy | |
| Enterprise Products Partners L.P. | -0.10 | 0.09 | 0.21 | 87 | Energy | |
| Exxon Mobil Corporation | -0.09 | 0.05 | 0.18 | 75 | Energy | |
| Devon Energy Corporation | -0.09 | 0.09 | 0.19 | 72 | Energy |
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Build a portfolio that complements GDXJ
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