Looking to diversify beyond INDA? The ETFs below have the lowest correlation with INDA — 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 INDA.
Best Diversifiers for INDA
689 ETFs have low correlation with INDA (below 0.3), 94 of which are negatively correlated. The least correlated is United States Oil Fund LP (USO) (Oil & Gas) with a 1Y correlation of -0.33, 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 | -0.33 | -0.08 | 0.04 | 66 | Oil & Gas | INDA vs USO | |
| United States Brent Oil Fund LP | -0.33 | -0.08 | 0.03 | 65 | Oil & Gas | INDA vs BNO | |
| Invesco DB Energy Fund | -0.33 | -0.08 | 0.04 | 71 | Oil & Gas | INDA vs DBE | |
| Defiance Oil Enhanced Options Income ETF | -0.33 | -0.13 | -0.13 | 56 | Derivative Income | INDA vs USOY | |
| Invesco DB Oil Fund | -0.30 | -0.06 | 0.05 | 65 | Oil & Gas | INDA vs DBO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from INDA, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to INDA and solid risk/return profiles. The least correlated is ConocoPhillips Company (COP) (Energy) with a 1Y correlation of -0.13, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ConocoPhillips Company | -0.13 | 0.03 | 0.13 | 76 | Energy | |
| Exxon Mobil Corporation | -0.13 | 0.03 | 0.13 | 85 | Energy | |
| BP p.l.c. | -0.10 | 0.07 | 0.16 | 87 | Energy | |
| Altria Group, Inc. | -0.10 | 0.05 | 0.13 | 69 | Consumer Defensive | |
| Enterprise Products Partners L.P. | -0.06 | 0.08 | 0.18 | 85 | Energy |
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