Looking to balance out your exposure to IBP? The ETFs below have the lowest correlation with IBP — they tend to move on their own, which can help reduce risk when IBP drops. The stock ideas table highlights individual companies that behave independently from IBP.
Best Diversifiers for IBP
3 ETFs have low correlation with IBP (below 0.3), 0 of which are negatively correlated. The least correlated is VanEck Vectors Rare Earth/Strategic Metals ETF (REMX) (Materials) with a 1Y correlation of 0.13, down from 0.33 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| VanEck Vectors Rare Earth/Strategic Metals ETF | 0.13 | 0.28 | 0.33 | 87 | Materials | IBP vs REMX | |
| Invesco DB Base Metals Fund | 0.16 | 0.16 | 0.15 | 73 | Metals | IBP vs DBB | |
| Xtrackers Harvest CSI 300 China A-Shares Fund | 0.23 | 0.17 | 0.19 | 75 | China Equities | IBP vs ASHR | |
| Invesco Solar ETF | 0.31 | 0.39 | 0.41 | 85 | Alternative Energy Equities | IBP vs TAN | |
| Global X Copper Miners ETF | 0.33 | 0.34 | 0.35 | 75 | Materials | IBP vs COPX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from IBP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to IBP and solid risk/return profiles. The least correlated is Magyar Telekom Plc (MYTAY) (Communication Services) with a 1Y correlation of 0.00, roughly unchanged from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Magyar Telekom Plc | 0.00 | 0.06 | 0.08 | 66 | Communication Services | |
| Sunoco LP | 0.01 | 0.14 | 0.19 | 76 | Energy | |
| Elbit Systems Ltd | 0.06 | 0.09 | 0.15 | 88 | Industrials | |
| Asseco Poland SA ADR | 0.07 | 0.03 | 0.02 | 59 | Technology | |
| Coca-Cola Consolidated, Inc. | 0.07 | 0.14 | 0.25 | 80 | Consumer Defensive |
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