Looking to diversify beyond IGM? The ETFs below have the lowest correlation with IGM — 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 IGM.
Best Diversifiers for IGM
447 ETFs have low correlation with IGM (below 0.3), 93 of which are negatively correlated. The least correlated is United States Oil Fund LP (USO) (Oil & Gas) with a 1Y correlation of -0.28, down from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.28 | -0.06 | 0.04 | 66 | Oil & Gas | IGM vs USO | |
| Invesco DB Energy Fund | -0.27 | -0.06 | 0.05 | 71 | Oil & Gas | IGM vs DBE | |
| United States Brent Oil Fund LP | -0.26 | -0.05 | 0.04 | 65 | Oil & Gas | IGM vs BNO | |
| Defiance Oil Enhanced Options Income ETF | -0.25 | — | — | 56 | Derivative Income | IGM vs USOY | |
| ProShares K-1 Free Crude Oil Strategy ETF | -0.22 | -0.02 | 0.06 | 55 | Oil & Gas | IGM vs OILK |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from IGM, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to IGM and solid risk/return profiles. The least correlated is Duke Energy Corporation (DUK) (Utilities) with a 1Y correlation of -0.28, down from -0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Duke Energy Corporation | -0.28 | -0.21 | -0.07 | 53 | Utilities | |
| Altria Group, Inc. | -0.27 | -0.14 | -0.03 | 69 | Consumer Defensive | |
| The Coca-Cola Company | -0.23 | -0.13 | 0.07 | 66 | Consumer Defensive | |
| Chubb Limited | -0.22 | -0.08 | 0.07 | 51 | Financial Services | |
| Verizon Communications Inc. | -0.22 | -0.11 | -0.01 | 59 | Communication Services |
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