Looking to diversify beyond OPEG? The ETFs below have the lowest correlation with OPEG — 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 OPEG.
Best Diversifiers for OPEG
2 ETFs have low correlation with OPEG (below 0.3), 0 of which are negatively correlated. The least correlated is Direxion Daily Pharmaceutical & Medical Bull 3X Shares (PILL) (Leveraged Equities) with a 1Y correlation of 0.14, roughly unchanged from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Direxion Daily Pharmaceutical & Medical Bull 3X Sh... | 0.14 | 0.14 | 0.14 | 61 | Leveraged Equities | OPEG vs PILL | |
| GraniteShares 2x Long INTC Daily ETF | 0.22 | 0.22 | 0.22 | 97 | Leveraged Equities | OPEG vs INTW | |
| MAX S&P 500 4X Leveraged ETN | 0.40 | 0.40 | 0.40 | 53 | Leveraged Equities, S&P 500 | OPEG vs XXXX | |
| Direxion Daily Technology Bull 3X Shares | 0.44 | 0.44 | 0.44 | 84 | Leveraged Equities, Technology Equities | OPEG vs TECL |
Diversification Analysis
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