Looking to diversify beyond LQD? The ETFs below have historically moved differently from LQD, 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 LQD
393 ETFs have low correlation with LQD (below 0.3), 97 of which are negatively correlated. The least correlated is Invesco DB Energy Fund (DBE) (Oil & Gas) with a 1Y correlation of -0.43, down from -0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Energy Fund | -0.43 | -0.22 | -0.12 | 72 | Oil & Gas | LQD vs DBE | |
| ProShares UltraShort Yen | -0.43 | -0.45 | -0.45 | 56 | Leveraged Currency | LQD vs YCS | |
| United States Brent Oil Fund LP | -0.43 | -0.22 | -0.13 | 52 | Oil & Gas | LQD vs BNO | |
| United States Oil Fund LP | -0.42 | -0.22 | -0.13 | 55 | Oil & Gas | LQD vs USO | |
| Invesco DB Oil Fund | -0.42 | -0.21 | -0.12 | 58 | Oil & Gas | LQD vs DBO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for LQD, 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 ConocoPhillips Company (COP) (Energy) with a 1Y correlation of -0.33, down from -0.06 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ConocoPhillips Company | -0.33 | -0.13 | -0.06 | 72 | Energy | |
| Chevron Corporation | -0.29 | -0.08 | -0.03 | 80 | Energy | |
| Exxon Mobil Corporation | -0.29 | -0.07 | -0.04 | 84 | Energy | |
| Occidental Petroleum Corporation | -0.28 | -0.08 | -0.03 | 70 | Energy | |
| Devon Energy Corporation | -0.27 | -0.08 | -0.02 | 76 | Energy |
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