Looking to diversify beyond IOO? The ETFs below have the lowest correlation with IOO — 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 IOO.
Best Diversifiers for IOO
406 ETFs have low correlation with IOO (below 0.3), 84 of which are negatively correlated. The least correlated is United States Oil Fund LP (USO) (Oil & Gas) with a 1Y correlation of -0.35, down from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.35 | -0.06 | 0.07 | 66 | Oil & Gas | IOO vs USO | |
| Invesco DB Energy Fund | -0.34 | -0.07 | 0.08 | 71 | Oil & Gas | IOO vs DBE | |
| United States Brent Oil Fund LP | -0.33 | -0.06 | 0.07 | 65 | Oil & Gas | IOO vs BNO | |
| Defiance Oil Enhanced Options Income ETF | -0.32 | — | — | 56 | Derivative Income | IOO vs USOY | |
| ProShares K-1 Free Crude Oil Strategy ETF | -0.30 | -0.03 | 0.09 | 55 | Oil & Gas | IOO vs OILK |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from IOO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to IOO and solid risk/return profiles. The least correlated is Duke Energy Corporation (DUK) (Utilities) with a 1Y correlation of -0.21, down from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Duke Energy Corporation | -0.21 | -0.08 | 0.07 | 53 | Utilities | |
| Altria Group, Inc. | -0.19 | -0.03 | 0.11 | 69 | Consumer Defensive | |
| ConocoPhillips Company | -0.19 | 0.01 | 0.17 | 76 | Energy | |
| Exxon Mobil Corporation | -0.18 | -0.00 | 0.16 | 85 | Energy | |
| Chevron Corporation | -0.18 | 0.02 | 0.18 | 83 | Energy |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements IOO
Add IOO to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with IOO