Looking to diversify beyond PIO? The ETFs below have historically moved differently from PIO, 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 PIO
219 ETFs have low correlation with PIO (below 0.3), 81 of which are negatively correlated. The least correlated is Invesco DB Energy Fund (DBE) (Oil & Gas) with a 1Y correlation of -0.44, down from -0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Energy Fund | -0.44 | -0.17 | -0.02 | 72 | Oil & Gas | PIO vs DBE | |
| United States Oil Fund LP | -0.42 | -0.16 | -0.02 | 55 | Oil & Gas | PIO vs USO | |
| United States Brent Oil Fund LP | -0.42 | -0.16 | -0.02 | 52 | Oil & Gas | PIO vs BNO | |
| Invesco DB Oil Fund | -0.41 | -0.15 | -0.01 | 58 | Oil & Gas | PIO vs DBO | |
| United States Gasoline Fund, LP | -0.40 | -0.13 | -0.01 | 87 | Oil & Gas | PIO vs UGA |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PIO, 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 Compass, Inc. (COMP) (Technology) with a 1Y correlation of 0.45, roughly unchanged from 0.46 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Compass, Inc. | 0.45 | 0.44 | 0.46 | 66 | Technology | |
| General Motors Company | 0.50 | 0.48 | 0.52 | 92 | Consumer Cyclical |
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