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
517 ETFs have low correlation with INDY (below 0.3), 63 of which are negatively correlated. The least correlated is United States Gasoline Fund LP (UGA) (Oil & Gas) with a 1Y correlation of -0.31, down from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Gasoline Fund LP | -0.31 | -0.08 | 0.03 | 55 | Oil & Gas | INDY vs UGA | |
| iShares iBonds Oct 2026 Term TIPS ETF | -0.28 | — | — | 98 | Inflation-Protected Bonds | INDY vs IBIC | |
| VanEck Commodity Strategy ETF | -0.26 | -0.02 | 0.03 | 57 | Commodities | INDY vs PIT | |
| F/m Ultrashort Treasury Inflation-Protected Securi... | -0.25 | — | — | 97 | Inflation-Protected Bonds | INDY vs RBIL | |
| ProShares UltraShort Yen | -0.21 | -0.10 | -0.08 | 63 | Leveraged Currency | INDY vs YCS |
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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 -0.18, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ConocoPhillips Company | -0.18 | 0.02 | 0.12 | 65 | Energy | |
| BP p.l.c. | -0.16 | 0.07 | 0.16 | 77 | Energy | |
| Archer-Daniels-Midland Company | -0.12 | 0.05 | 0.13 | 85 | Consumer Defensive | |
| Chevron Corporation | -0.12 | 0.06 | 0.15 | 70 | Energy | |
| Enterprise Products Partners L.P. | -0.12 | 0.07 | 0.16 | 85 | Energy |
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