Looking to diversify beyond SPXL? The ETFs below have the lowest correlation with SPXL — 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 SPXL.
Best Diversifiers for SPXL
208 ETFs have low correlation with SPXL (below 0.3), 27 of which are negatively correlated. The least correlated is United States Gasoline Fund LP (UGA) (Oil & Gas) with a 1Y correlation of -0.23, down from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Gasoline Fund LP | -0.23 | -0.04 | 0.08 | 55 | Oil & Gas | SPXL vs UGA | |
| iShares iBonds Oct 2026 Term TIPS ETF | -0.21 | — | — | 98 | Inflation-Protected Bonds | SPXL vs IBIC | |
| ProShares UltraShort Yen | -0.19 | -0.03 | -0.02 | 63 | Leveraged Currency | SPXL vs YCS | |
| Direxion Daily NFLX Bear 1X Shares | -0.19 | — | — | 55 | Inverse Equities | SPXL vs NFXS | |
| iShares iBonds Oct 2027 Term TIPS ETF | -0.14 | — | — | 95 | Inflation-Protected Bonds | SPXL vs IBID |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SPXL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SPXL and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.20, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.20 | 0.00 | 0.13 | 72 | Consumer Defensive | |
| Exxon Mobil Corporation | -0.18 | 0.05 | 0.19 | 72 | Energy | |
| The Coca-Cola Company | -0.16 | 0.05 | 0.22 | 74 | Consumer Defensive | |
| Duke Energy Corporation | -0.15 | 0.00 | 0.12 | 62 | Utilities | |
| Chevron Corporation | -0.14 | 0.08 | 0.21 | 70 | Energy |
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