Looking to diversify beyond ICLN? The ETFs below have the lowest correlation with ICLN — 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 ICLN.
Best Diversifiers for ICLN
510 ETFs have low correlation with ICLN (below 0.3), 74 of which are negatively correlated. The least correlated is Proshares Ultrashort Bitcoin ETF (SBIT) (Cryptocurrency) with a 1Y correlation of -0.36, roughly unchanged from -0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Proshares Ultrashort Bitcoin ETF | -0.36 | -0.27 | -0.27 | 52 | Cryptocurrency, Leveraged Cryptocurrency | ICLN vs SBIT | |
| ProShares Short Bitcoin ETF | -0.36 | -0.25 | -0.28 | 57 | Cryptocurrency | ICLN vs BITI | |
| Defiance Daily Target 2X Short MSTR ETF | -0.35 | -0.30 | -0.30 | 60 | Inverse Equities | ICLN vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.35 | -0.29 | -0.29 | 68 | Inverse Equities, Leveraged Equities | ICLN vs MSTZ | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.34 | -0.34 | -0.34 | 70 | Derivative Income | ICLN vs WNTR |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ICLN, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ICLN and solid risk/return profiles. The least correlated is Waste Management, Inc. (WM) (Industrials) with a 1Y correlation of -0.27, down from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Waste Management, Inc. | -0.27 | -0.07 | 0.07 | 53 | Industrials | |
| Chubb Limited | -0.25 | -0.05 | 0.09 | 86 | Financial Services | |
| The Coca-Cola Company | -0.20 | 0.03 | 0.11 | 83 | Consumer Defensive | |
| Duke Energy Corporation | -0.19 | 0.07 | 0.12 | 66 | Utilities | |
| Colgate-Palmolive Company | -0.14 | -0.01 | 0.03 | 53 | Consumer Defensive |
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