Looking to diversify beyond IDMO? The ETFs below have the lowest correlation with IDMO — 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 IDMO.
Best Diversifiers for IDMO
348 ETFs have low correlation with IDMO (below 0.3), 74 of which are negatively correlated. The least correlated is Invesco DB Energy Fund (DBE) (Oil & Gas) with a 1Y correlation of -0.37, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Energy Fund | -0.37 | -0.09 | 0.11 | 71 | Oil & Gas | IDMO vs DBE | |
| United States Brent Oil Fund LP | -0.36 | -0.09 | 0.11 | 65 | Oil & Gas | IDMO vs BNO | |
| United States Oil Fund LP | -0.35 | -0.08 | 0.11 | 66 | Oil & Gas | IDMO vs USO | |
| ProShares UltraShort Yen | -0.34 | -0.22 | -0.18 | 61 | Leveraged Currency | IDMO vs YCS | |
| Defiance Oil Enhanced Options Income ETF | -0.34 | -0.13 | -0.13 | 56 | Derivative Income | IDMO vs USOY |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from IDMO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to IDMO and solid risk/return profiles. The least correlated is ConocoPhillips Company (COP) (Energy) with a 1Y correlation of -0.18, down from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ConocoPhillips Company | -0.18 | 0.05 | 0.22 | 76 | Energy | |
| Chevron Corporation | -0.16 | 0.04 | 0.21 | 83 | Energy | |
| Exxon Mobil Corporation | -0.15 | 0.05 | 0.21 | 85 | Energy | |
| Ovintiv Inc. | -0.13 | 0.13 | 0.28 | 81 | Energy | |
| Duke Energy Corporation | -0.09 | 0.05 | 0.12 | 53 | Utilities |
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