Looking to balance out your exposure to RY? The ETFs below have historically moved differently from RY, 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 RY
56 ETFs have low correlation with RY (below 0.3), 14 of which are negatively correlated. The least correlated is Invesco DB US Dollar Index Bullish Fund (UUP) (Currency) with a 1Y correlation of -0.44, roughly unchanged from -0.40 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB US Dollar Index Bullish Fund | -0.44 | -0.37 | -0.40 | 53 | Currency | RY vs UUP | |
| iShares 0-3 Month Treasury Bond ETF | -0.13 | -0.03 | -0.03 | 100 | Ultrashort Bond | RY vs SGOV | |
| WisdomTree Floating Rate Treasury Fund | -0.11 | -0.04 | -0.04 | 100 | Government Bonds, Ultrashort Bond | RY vs USFR | |
| State Street Energy Select Sector SPDR ETF | -0.10 | 0.15 | 0.33 | 65 | Energy Equities | RY vs XLE | |
| Invesco DB Commodity Index Tracking Fund | -0.08 | 0.02 | 0.19 | 64 | Commodities | RY vs DBC |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for RY, 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 Chevron Corporation (CVX) (Energy) with a 1Y correlation of -0.16, down from 0.28 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chevron Corporation | -0.16 | 0.09 | 0.28 | 73 | Energy | |
| Occidental Petroleum Corporation | -0.15 | 0.05 | 0.22 | 63 | Energy | |
| ConocoPhillips Company | -0.14 | 0.05 | 0.26 | 66 | Energy | |
| Devon Energy Corporation | -0.14 | 0.09 | 0.28 | 70 | Energy | |
| Exxon Mobil Corporation | -0.12 | 0.10 | 0.28 | 83 | Energy |
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Build a portfolio that complements RY
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