Looking to diversify beyond SPD? The ETFs below have the lowest correlation with SPD — 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 SPD.
Best Diversifiers for SPD
280 ETFs have low correlation with SPD (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 -0.28, down from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Energy Fund | -0.28 | -0.06 | 0.06 | 71 | Oil & Gas | SPD vs DBE | |
| United States Oil Fund LP | -0.28 | -0.05 | 0.05 | 66 | Oil & Gas | SPD vs USO | |
| Defiance Oil Enhanced Options Income ETF | -0.26 | -0.08 | -0.08 | 56 | Derivative Income | SPD vs USOY | |
| United States Brent Oil Fund LP | -0.26 | -0.05 | 0.05 | 65 | Oil & Gas | SPD vs BNO | |
| ProShares K-1 Free Crude Oil Strategy ETF | -0.24 | -0.02 | 0.07 | 56 | Oil & Gas | SPD vs OILK |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SPD, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SPD and solid risk/return profiles. The least correlated is Canadian Solar Inc. (CSIQ) (Technology) with a 1Y correlation of 0.24, roughly unchanged from 0.33 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Canadian Solar Inc. | 0.24 | 0.30 | 0.33 | 70 | Technology | |
| Hannon Armstrong Sustainable Infrastructure Capita... | 0.44 | 0.36 | 0.42 | 90 | Real Estate |
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