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
459 ETFs have low correlation with IRBO (below 0.3), 93 of which are negatively correlated. The least correlated is Invesco DB Energy Fund (DBE) (Oil & Gas) with a 1Y correlation of -0.24, down from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Energy Fund | -0.24 | -0.03 | 0.07 | 71 | Oil & Gas | IRBO vs DBE | |
| United States Oil Fund LP | -0.23 | -0.03 | 0.06 | 66 | Oil & Gas | IRBO vs USO | |
| United States Brent Oil Fund LP | -0.21 | -0.02 | 0.07 | 65 | Oil & Gas | IRBO vs BNO | |
| Defiance Oil Enhanced Options Income ETF | -0.21 | — | — | 56 | Derivative Income | IRBO vs USOY | |
| United States Gasoline Fund LP | -0.19 | -0.03 | 0.06 | 69 | Oil & Gas | IRBO vs UGA |
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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 0.21, down from 0.53 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Fortive Corporation | 0.21 | 0.44 | 0.53 | 54 | Technology | |
| Tesla, Inc. | 0.42 | 0.49 | 0.55 | 55 | Consumer Cyclical |
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