Looking to balance out your exposure to IP? The ETFs below have historically moved differently from IP, 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 IP
6 ETFs have low correlation with IP (below 0.3), 2 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.02, roughly unchanged from 0.00 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.02 | 0.02 | 0.00 | 100 | Ultrashort Bond | IP vs SGOV | |
| State Street Energy Select Sector SPDR ETF | -0.01 | 0.18 | 0.28 | 76 | Energy Equities | IP vs XLE | |
| State Street Technology Select Sector SPDR ETF | 0.11 | 0.20 | 0.30 | 55 | Technology Equities | IP vs XLK | |
| Direxion Daily Semiconductor Bull 3X ETF | 0.16 | 0.22 | 0.31 | 90 | Leveraged Equities, Semiconductors | IP vs SOXL | |
| Vanguard S&P 500 ETF | 0.30 | 0.35 | 0.44 | 68 | S&P 500 | IP vs VOO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for IP, 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 CF Industries Holdings, Inc. (CF) (Basic Materials) with a 1Y correlation of -0.08, down from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| CF Industries Holdings, Inc. | -0.08 | 0.08 | 0.16 | 72 | Basic Materials | |
| Cboe Global Markets, Inc. | -0.08 | -0.03 | 0.07 | 69 | Financial Services | |
| Valero Energy Corporation | -0.08 | 0.10 | 0.20 | 98 | Energy | |
| Snowflake Inc. | -0.06 | 0.07 | 0.14 | 62 | Technology | |
| Enterprise Products Partners L.P. | -0.05 | 0.18 | 0.28 | 89 | Energy |
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