Looking to diversify beyond PSP? The ETFs below have the lowest correlation with PSP — 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 PSP.
Best Diversifiers for PSP
290 ETFs have low correlation with PSP (below 0.3), 67 of which are negatively correlated. The least correlated is Invesco DB Energy Fund (DBE) (Oil & Gas) with a 1Y correlation of -0.34, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Energy Fund | -0.34 | -0.07 | 0.09 | 71 | Oil & Gas | PSP vs DBE | |
| United States Oil Fund LP | -0.32 | -0.05 | 0.09 | 66 | Oil & Gas | PSP vs USO | |
| United States Brent Oil Fund LP | -0.31 | -0.05 | 0.09 | 65 | Oil & Gas | PSP vs BNO | |
| Defiance Oil Enhanced Options Income ETF | -0.29 | — | — | 56 | Derivative Income | PSP vs USOY | |
| Invesco DB Oil Fund | -0.28 | -0.03 | 0.10 | 65 | Oil & Gas | PSP vs DBO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PSP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PSP and solid risk/return profiles. The least correlated is Exxon Mobil Corporation (XOM) (Energy) with a 1Y correlation of -0.07, down from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | -0.07 | 0.12 | 0.22 | 85 | Energy |
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