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
557 ETFs have low correlation with INDY (below 0.3), 90 of which are negatively correlated. The least correlated is Invesco DB Energy Fund (DBE) (Oil & Gas) with a 1Y correlation of -0.37, down from 0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Energy Fund | -0.37 | -0.13 | 0.02 | 53 | Oil & Gas | INDY vs DBE | |
| iShares S&P GSCI Commodity-Indexed Trust | -0.33 | -0.06 | 0.06 | 51 | Commodities | INDY vs GSG | |
| iShares iBonds Oct 2026 Term TIPS ETF | -0.33 | — | — | 98 | Inflation-Protected Bonds | INDY vs IBIC | |
| United States Gasoline Fund LP | -0.32 | -0.10 | 0.02 | 78 | Oil & Gas | INDY vs UGA | |
| Invesco DB US Dollar Index Bullish Fund | -0.30 | -0.28 | -0.33 | 51 | Currency | INDY vs UUP |
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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 Occidental Petroleum Corporation (OXY) (Energy) with a 1Y correlation of -0.26, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Occidental Petroleum Corporation | -0.26 | -0.02 | 0.12 | 62 | Energy | |
| ConocoPhillips Company | -0.18 | 0.00 | 0.12 | 66 | Energy | |
| Waste Management, Inc. | -0.17 | 0.02 | 0.16 | 53 | Industrials | |
| Enterprise Products Partners L.P. | -0.16 | 0.05 | 0.16 | 87 | Energy | |
| BP p.l.c. | -0.15 | 0.06 | 0.16 | 75 | Energy |
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