Looking to diversify beyond IRBO? The ETFs below have the lowest correlation with IRBO — 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 IRBO.
Best Diversifiers for IRBO
500 ETFs have low correlation with IRBO (below 0.3), 85 of which are negatively correlated. The least correlated is ProShares Short Bitcoin ETF (BITI) (Cryptocurrency) with a 1Y correlation of -0.46, roughly unchanged from -0.38 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.46 | -0.38 | — | 53 | Cryptocurrency | IRBO vs BITI | |
| Defiance Daily Target 2X Short MSTR ETF | -0.45 | — | — | 56 | Inverse Equities | IRBO vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.44 | — | — | 65 | Inverse Equities, Leveraged Equities | IRBO vs MSTZ | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.43 | — | — | 70 | Derivative Income | IRBO vs WNTR | |
| Return Stacked Bonds & Futures Yield ETF | -0.22 | — | — | 54 | Multistrategy | IRBO vs RSBY |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from IRBO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to IRBO and solid risk/return profiles. The least correlated is Fortive Corporation (FTV) (Technology) with a 1Y correlation of 0.17, down from 0.52 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Fortive Corporation | 0.17 | 0.41 | 0.52 | 67 | Technology | |
| Tesla, Inc. | 0.49 | 0.50 | 0.56 | 62 | Consumer Cyclical |
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