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
438 ETFs have low correlation with IOO (below 0.3), 77 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Defiance Daily Target 2X Short MSTR ETF | -0.47 | — | — | 53 | Inverse Equities | IOO vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.47 | — | — | 61 | Inverse Equities, Leveraged Equities | IOO vs MSTZ | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.45 | — | — | 69 | Derivative Income | IOO vs WNTR | |
| Alpha Architect Tail Risk ETF | -0.32 | -0.05 | — | 53 | Options Trading | IOO vs CAOS | |
| Invesco DB Energy Fund | -0.27 | -0.06 | 0.08 | 58 | Oil & Gas | IOO vs DBE |
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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 -0.30, down from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Duke Energy Corporation | -0.30 | -0.12 | 0.07 | 63 | Utilities | |
| Waste Management, Inc. | -0.28 | 0.01 | 0.20 | 51 | Industrials | |
| Altria Group, Inc. | -0.25 | -0.07 | 0.09 | 77 | Consumer Defensive | |
| Occidental Petroleum Corporation | -0.22 | 0.02 | 0.17 | 68 | Energy | |
| The Southern Company | -0.22 | -0.07 | 0.11 | 56 | Utilities |
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