Looking to diversify beyond INDY? The ETFs below have the lowest correlation with INDY — 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 INDY.
Best Diversifiers for INDY
676 ETFs have low correlation with INDY (below 0.3), 96 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 0.03 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 | 0.03 | 66 | Oil & Gas | INDY vs USO | |
| United States Brent Oil Fund LP | -0.33 | -0.08 | 0.03 | 65 | Oil & Gas | INDY vs BNO | |
| Defiance Oil Enhanced Options Income ETF | -0.31 | -0.13 | -0.13 | 56 | Derivative Income | INDY vs USOY | |
| Invesco DB Energy Fund | -0.31 | -0.08 | 0.04 | 71 | Oil & Gas | INDY vs DBE | |
| United States 12 Month Oil Fund LP | -0.30 | -0.05 | 0.05 | 56 | Oil & Gas | INDY vs USL |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from INDY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to INDY and solid risk/return profiles. The least correlated is ConocoPhillips Company (COP) (Energy) with a 1Y correlation of -0.15, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ConocoPhillips Company | -0.15 | 0.04 | 0.13 | 76 | Energy | |
| BP p.l.c. | -0.12 | 0.09 | 0.17 | 87 | Energy | |
| Altria Group, Inc. | -0.10 | 0.07 | 0.13 | 69 | Consumer Defensive | |
| Archer-Daniels-Midland Company | -0.09 | 0.07 | 0.15 | 94 | Consumer Defensive | |
| Petróleo Brasileiro S.A. - Petrobras | -0.08 | 0.10 | 0.14 | 86 | Energy |
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