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
248 ETFs have low correlation with IDEV (below 0.3), 56 of which are negatively correlated. The least correlated is Invesco DB US Dollar Index Bullish Fund (UUP) (Currency) with a 1Y correlation of -0.59, roughly unchanged from -0.59 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB US Dollar Index Bullish Fund | -0.59 | -0.54 | -0.59 | 51 | Currency | IDEV vs UUP | |
| ProShares UltraShort Yen | -0.41 | -0.29 | -0.24 | 72 | Leveraged Currency | IDEV vs YCS | |
| ProShares Short Bitcoin ETF | -0.40 | -0.31 | -0.34 | 57 | Cryptocurrency | IDEV vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.40 | -0.35 | -0.35 | 52 | Cryptocurrency, Leveraged Cryptocurrency | IDEV vs SBIT | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.38 | -0.33 | -0.33 | 68 | Inverse Equities, Leveraged Equities | IDEV vs MSTZ |
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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 Devon Energy Corporation (DVN) (Energy) with a 1Y correlation of -0.13, down from 0.29 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Devon Energy Corporation | -0.13 | 0.13 | 0.29 | 72 | Energy | |
| ConocoPhillips Company | -0.12 | 0.06 | 0.22 | 66 | Energy | |
| Altria Group, Inc. | -0.12 | 0.08 | 0.18 | 81 | Consumer Defensive | |
| Occidental Petroleum Corporation | -0.11 | 0.10 | 0.24 | 62 | Energy | |
| Exxon Mobil Corporation | -0.10 | 0.09 | 0.25 | 75 | Energy |
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