Looking to diversify beyond PHO? The ETFs below have historically moved differently from PHO, 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 PHO
332 ETFs have low correlation with PHO (below 0.3), 85 of which are negatively correlated. The least correlated is Invesco DB Energy Fund (DBE) (Oil & Gas) with a 1Y correlation of -0.36, down from 0.01 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Energy Fund | -0.36 | -0.13 | 0.01 | 72 | Oil & Gas | PHO vs DBE | |
| United States Gasoline Fund LP | -0.33 | -0.11 | 0.02 | 87 | Oil & Gas | PHO vs UGA | |
| United States Brent Oil Fund LP | -0.33 | -0.11 | 0.01 | 52 | Oil & Gas | PHO vs BNO | |
| Invesco DB Oil Fund | -0.33 | -0.11 | 0.02 | 58 | Oil & Gas | PHO vs DBO | |
| United States Oil Fund LP | -0.32 | -0.11 | 0.01 | 55 | Oil & Gas | PHO vs USO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PHO, 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 TC Energy Corporation (TRP) (Energy) with a 1Y correlation of 0.00, down from 0.31 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| TC Energy Corporation | 0.00 | 0.21 | 0.31 | 95 | Energy | |
| NVIDIA Corporation | 0.05 | 0.21 | 0.38 | 56 | Technology | |
| Electronic Arts Inc. | 0.07 | 0.32 | 0.37 | 96 | Communication Services | |
| CVS Health Corporation | 0.09 | 0.22 | 0.29 | 94 | Healthcare | |
| Johnson & Johnson | 0.10 | 0.19 | 0.28 | 97 | Healthcare |
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