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
278 ETFs have low correlation with SPXL (below 0.3), 61 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T-REX 2X Inverse MSTR Daily Target ETF | -0.48 | — | — | 68 | Inverse Equities, Leveraged Equities | SPXL vs MSTZ | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.47 | — | — | 70 | Derivative Income | SPXL vs WNTR | |
| ProShares Short Bitcoin ETF | -0.46 | -0.37 | -0.38 | 57 | Cryptocurrency | SPXL vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.46 | -0.42 | -0.42 | 52 | Cryptocurrency, Leveraged Cryptocurrency | SPXL vs SBIT | |
| Invesco DB US Dollar Index Bullish Fund | -0.33 | -0.24 | -0.29 | 51 | Currency | SPXL vs UUP |
To view more results, upgrade your current subscription plan.
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 -0.26, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.26 | -0.02 | 0.13 | 81 | Consumer Defensive | |
| Waste Management, Inc. | -0.21 | 0.09 | 0.27 | 53 | Industrials | |
| The Coca-Cola Company | -0.20 | 0.03 | 0.23 | 83 | Consumer Defensive | |
| Duke Energy Corporation | -0.19 | -0.01 | 0.11 | 66 | Utilities | |
| Verizon Communications Inc. | -0.19 | 0.01 | 0.14 | 57 | Communication Services |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements SPXL
Add SPXL to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with SPXL