Looking to diversify beyond IDEV? The ETFs below have the lowest correlation with IDEV — 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 IDEV.
Best Diversifiers for IDEV
298 ETFs have low correlation with IDEV (below 0.3), 61 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.45, down from -0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.45 | -0.29 | -0.24 | 63 | Leveraged Currency | IDEV vs YCS | |
| Invesco DB Energy Fund | -0.38 | -0.07 | 0.11 | 71 | Oil & Gas | IDEV vs DBE | |
| United States Brent Oil Fund LP | -0.37 | -0.06 | 0.10 | 65 | Oil & Gas | IDEV vs BNO | |
| United States Oil Fund LP | -0.37 | -0.07 | 0.10 | 66 | Oil & Gas | IDEV vs USO | |
| Defiance Oil Enhanced Options Income ETF | -0.34 | — | — | 56 | Derivative Income | IDEV vs USOY |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from IDEV, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to IDEV and solid risk/return profiles. The least correlated is ConocoPhillips Company (COP) (Energy) with a 1Y correlation of -0.12, down from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ConocoPhillips Company | -0.12 | 0.09 | 0.24 | 76 | Energy | |
| Exxon Mobil Corporation | -0.09 | 0.11 | 0.24 | 85 | Energy | |
| Altria Group, Inc. | -0.09 | 0.12 | 0.20 | 67 | Consumer Defensive | |
| Chevron Corporation | -0.07 | 0.12 | 0.26 | 83 | Energy | |
| Energy Transfer LP | -0.06 | 0.23 | 0.33 | 73 | Energy |
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