Looking to diversify beyond GSOL? The ETFs below have the lowest correlation with GSOL — 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 GSOL.
Best Diversifiers for GSOL
751 ETFs have low correlation with GSOL (below 0.3), 88 of which are negatively correlated. The least correlated is USCF Midstream Energy Income Fund ETF (UMI) (Energy Equities) with a 1Y correlation of -0.26, roughly unchanged from -0.26 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| USCF Midstream Energy Income Fund ETF | -0.26 | -0.26 | -0.26 | 83 | Energy Equities | GSOL vs UMI | |
| Pacer American Energy Independence ETF | -0.24 | -0.24 | -0.24 | 50 | Energy Equities | GSOL vs USAI | |
| ProShares UltraShort Yen | -0.24 | -0.24 | -0.24 | 73 | Leveraged Currency | GSOL vs YCS | |
| First Trust New York High Income Municipal ETF | -0.23 | -0.23 | -0.23 | 78 | Municipal Bonds | GSOL vs FMNY | |
| Global X MLP & Energy Infrastructure ETF | -0.21 | -0.21 | -0.21 | 75 | MLPs | GSOL vs MLPX |
See all 2020 diversifiers for GSOL
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