Looking to diversify beyond INDL? The ETFs below have historically moved differently from INDL, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for INDL
587 ETFs have low correlation with INDL (below 0.3), 108 of which are negatively correlated. The least correlated is United States Oil Fund LP (USO) (Oil & Gas) with a 1Y correlation of -0.41, down from -0.00 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.41 | -0.14 | -0.00 | 55 | Oil & Gas | INDL vs USO | |
| United States Brent Oil Fund LP | -0.40 | -0.13 | -0.00 | 52 | Oil & Gas | INDL vs BNO | |
| Invesco DB Energy Fund | -0.39 | -0.14 | 0.01 | 72 | Oil & Gas | INDL vs DBE | |
| Invesco DB Oil Fund | -0.37 | -0.12 | 0.02 | 58 | Oil & Gas | INDL vs DBO | |
| iShares S&P GSCI Commodity-Indexed Trust | -0.35 | -0.08 | 0.04 | 67 | Commodities | INDL vs GSG |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for INDL, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Permian Resources Corporation (PR) (Energy) with a 1Y correlation of -0.18, down from 0.03 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Permian Resources Corporation | -0.18 | 0.03 | — | 84 | Energy | |
| YPF Sociedad Anónima | -0.12 | 0.08 | 0.18 | 76 | Energy | |
| Arch Capital Group Ltd. | -0.00 | 0.11 | 0.20 | 67 | Financial Services | |
| German American Bancorp, Inc. | 0.16 | 0.22 | 0.26 | 86 | Financial Services | |
| Glaukos Corporation | 0.17 | 0.20 | 0.26 | 89 | Healthcare |
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