Looking to diversify beyond INDY? The ETFs below have historically moved differently from INDY, 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 INDY
603 ETFs have low correlation with INDY (below 0.3), 101 of which are negatively correlated. The least correlated is Invesco DB Energy Fund (DBE) (Oil & Gas) with a 1Y correlation of -0.40, down from 0.00 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Energy Fund | -0.40 | -0.14 | 0.00 | 66 | Oil & Gas | INDY vs DBE | |
| Invesco DB Oil Fund | -0.37 | -0.12 | 0.01 | 51 | Oil & Gas | INDY vs DBO | |
| iShares S&P GSCI Commodity-Indexed Trust | -0.35 | -0.07 | 0.04 | 61 | Commodities | INDY vs GSG | |
| United States Gasoline Fund, LP | -0.35 | -0.11 | 0.01 | 83 | Oil & Gas | INDY vs UGA | |
| iShares GSCI Commodity Dynamic Roll Strategy ETF | -0.34 | -0.08 | 0.04 | 56 | Commodities | INDY vs COMT |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for INDY, 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 Occidental Petroleum Corporation (OXY) (Energy) with a 1Y correlation of -0.27, down from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Occidental Petroleum Corporation | -0.27 | -0.03 | 0.10 | 68 | Energy | |
| ConocoPhillips Company | -0.20 | -0.01 | 0.11 | 73 | Energy | |
| Enterprise Products Partners L.P. | -0.20 | 0.03 | 0.14 | 89 | Energy | |
| BP p.l.c. | -0.20 | 0.04 | 0.15 | 83 | Energy | |
| Exxon Mobil Corporation | -0.17 | 0.01 | 0.12 | 85 | Energy |
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