Looking to diversify beyond OVL? The ETFs below have the lowest correlation with OVL — 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 OVL.
Best Diversifiers for OVL
276 ETFs have low correlation with OVL (below 0.3), 52 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T-REX 2X Inverse MSTR Daily Target ETF | -0.48 | — | — | 61 | Inverse Equities, Leveraged Equities | OVL vs MSTZ | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.46 | — | — | 69 | Derivative Income | OVL vs WNTR | |
| Alpha Architect Tail Risk ETF | -0.32 | -0.04 | — | 53 | Options Trading | OVL vs CAOS | |
| Invesco DB Energy Fund | -0.25 | -0.07 | 0.08 | 58 | Oil & Gas | OVL vs DBE | |
| iShares iBonds Oct 2026 Term TIPS ETF | -0.22 | — | — | 98 | Inflation-Protected Bonds | OVL vs IBIC |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from OVL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to OVL and solid risk/return profiles. The least correlated is Duke Energy Corporation (DUK) (Utilities) with a 1Y correlation of -0.22, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Duke Energy Corporation | -0.22 | -0.02 | 0.12 | 63 | Utilities | |
| Altria Group, Inc. | -0.22 | 0.00 | 0.13 | 77 | Consumer Defensive | |
| Waste Management, Inc. | -0.20 | 0.10 | 0.26 | 51 | Industrials | |
| Exxon Mobil Corporation | -0.18 | 0.03 | 0.20 | 77 | Energy | |
| The Coca-Cola Company | -0.18 | 0.04 | 0.23 | 81 | Consumer Defensive |
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