Looking to balance out your exposure to RY? The ETFs below have the lowest correlation with RY — they tend to move on their own, which can help reduce risk when RY drops. The stock ideas table highlights individual companies that behave independently from RY.
Best Diversifiers for RY
50 ETFs have low correlation with RY (below 0.3), 11 of which are negatively correlated. The least correlated is United States Oil Fund LP (USO) (Oil & Gas) with a 1Y correlation of -0.22, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.22 | -0.03 | 0.13 | 66 | Oil & Gas | RY vs USO | |
| ProShares Ultra Bloomberg Crude Oil | -0.19 | -0.01 | 0.15 | 54 | Leveraged Commodities | RY vs UCO | |
| iShares 0-3 Month Treasury Bond ETF | -0.14 | -0.02 | -0.02 | 100 | Ultrashort Bond | RY vs SGOV | |
| Invesco DB Commodity Index Tracking Fund | -0.12 | 0.05 | 0.20 | 76 | Commodities | RY vs DBC | |
| Invesco Optimum Yield Diversified Commodity Strate... | -0.11 | 0.05 | 0.20 | 76 | Commodities | RY vs PDBC |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from RY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to RY and solid risk/return profiles. The least correlated is Chevron Corporation (CVX) (Energy) with a 1Y correlation of -0.12, down from 0.31 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chevron Corporation | -0.12 | 0.14 | 0.31 | 84 | Energy | |
| Exxon Mobil Corporation | -0.10 | 0.13 | 0.30 | 86 | Energy | |
| ConocoPhillips Company | -0.10 | 0.09 | 0.25 | 78 | Energy | |
| Altria Group, Inc. | -0.08 | 0.14 | 0.23 | 73 | Consumer Defensive | |
| BP p.l.c. | -0.05 | 0.17 | 0.32 | 89 | Energy |
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Build a portfolio that complements RY
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