Looking to diversify beyond SPXL? The ETFs below have historically moved differently from SPXL, 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 SPXL
307 ETFs have low correlation with SPXL (below 0.3), 80 of which are negatively correlated. The least correlated is ProShares Short Bitcoin ETF (BITI) (Cryptocurrency) with a 1Y correlation of -0.48, down from -0.37 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.48 | -0.37 | — | 51 | Cryptocurrency | SPXL vs BITI | |
| YieldMax MSTR Short Option Income Strategy ETF | -0.48 | — | — | 69 | Derivative Income | SPXL vs WNTR | |
| Invesco DB Energy Fund | -0.27 | -0.07 | 0.08 | 66 | Oil & Gas | SPXL vs DBE | |
| Invesco DB Oil Fund | -0.24 | -0.05 | 0.07 | 51 | Oil & Gas | SPXL vs DBO | |
| iShares iBonds Oct 2026 Term TIPS ETF | -0.23 | -0.06 | -0.06 | 98 | Inflation-Protected Bonds | SPXL vs IBIC |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for SPXL, 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 Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.27, down from 0.11 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.27 | -0.03 | 0.11 | 66 | Consumer Defensive | |
| Duke Energy Corporation | -0.26 | -0.04 | 0.12 | 52 | Utilities | |
| Chevron Corporation | -0.22 | 0.06 | 0.22 | 79 | Energy | |
| The Coca-Cola Company | -0.22 | 0.02 | 0.22 | 87 | Consumer Defensive | |
| Exxon Mobil Corporation | -0.22 | 0.03 | 0.19 | 85 | Energy |
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