Looking to diversify beyond OILD? The ETFs below have historically moved differently from OILD, 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 OILD
1259 ETFs have low correlation with OILD (below 0.3), 377 of which are negatively correlated. The least correlated is MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) (Leveraged Equities) with a 1Y correlation of -1.00, roughly unchanged from -0.99 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MicroSectors Oil & Gas Exploration & Production 3X... | -1.00 | -0.99 | — | 56 | Leveraged Equities, Energy Equities, Oil & Gas | OILD vs OILU | |
| ProShares Ultra Oil & Gas | -0.99 | -0.99 | — | 71 | Leveraged Equities | OILD vs DIG | |
| iShares U.S. Energy ETF | -0.99 | -0.99 | — | 75 | Energy Equities | OILD vs IYE | |
| Fidelity MSCI Energy Index ETF | -0.99 | -0.99 | — | 76 | Energy Equities | OILD vs FENY | |
| Direxion Daily Energy Bull 2X Shares | -0.99 | -0.99 | — | 71 | Energy Equities, Leveraged Equities | OILD vs ERX |
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