Looking to diversify beyond IDRV? The ETFs below have the lowest correlation with IDRV — 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 IDRV.
Best Diversifiers for IDRV
403 ETFs have low correlation with IDRV (below 0.3), 53 of which are negatively correlated. The least correlated is United States Oil Fund LP (USO) (Oil & Gas) with a 1Y correlation of -0.29, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.29 | 0.00 | 0.10 | 66 | Oil & Gas | IDRV vs USO | |
| Invesco DB Energy Fund | -0.26 | 0.00 | 0.11 | 71 | Oil & Gas | IDRV vs DBE | |
| United States Brent Oil Fund LP | -0.26 | 0.01 | 0.10 | 65 | Oil & Gas | IDRV vs BNO | |
| Defiance Oil Enhanced Options Income ETF | -0.26 | — | — | 56 | Derivative Income | IDRV vs USOY | |
| Invesco DB Oil Fund | -0.24 | 0.03 | 0.11 | 65 | Oil & Gas | IDRV vs DBO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from IDRV, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to IDRV and solid risk/return profiles. The least correlated is Rio Tinto Group (RIO) (Basic Materials) with a 1Y correlation of 0.56, roughly unchanged from 0.52 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Rio Tinto Group | 0.56 | 0.56 | 0.52 | 94 | Basic Materials |
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