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
206 ETFs have low correlation with OVL (below 0.3), 24 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| YieldMax Short MSTR Option Income Strategy ETF | -0.46 | — | — | 51 | Derivative Income | OVL vs WNTR | |
| iShares iBonds Oct 2026 Term TIPS ETF | -0.20 | — | — | 98 | Inflation-Protected Bonds | OVL vs IBIC | |
| United States Gasoline Fund LP | -0.19 | -0.04 | 0.08 | 60 | Oil & Gas | OVL vs UGA | |
| ProShares UltraShort Yen | -0.17 | -0.03 | -0.02 | 73 | Leveraged Currency | OVL vs YCS | |
| Brookstone Ultra-Short Bond ETF | -0.13 | — | — | 99 | Ultrashort Bond | OVL vs BAMU |
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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 BlackRock Science and Technology Trust (BST) (Financial Services) with a 1Y correlation of 0.73, roughly unchanged from 0.78 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| BlackRock Science and Technology Trust | 0.73 | 0.74 | 0.78 | 86 | Financial Services |
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