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
277 ETFs have low correlation with SPXL (below 0.3), 67 of which are negatively correlated. The least correlated is United States Oil Fund LP (USO) (Oil & Gas) with a 1Y correlation of -0.32, down from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.32 | -0.06 | 0.08 | 66 | Oil & Gas | SPXL vs USO | |
| Invesco DB Energy Fund | -0.31 | -0.07 | 0.09 | 71 | Oil & Gas | SPXL vs DBE | |
| United States Brent Oil Fund LP | -0.30 | -0.06 | 0.08 | 65 | Oil & Gas | SPXL vs BNO | |
| Defiance Oil Enhanced Options Income ETF | -0.29 | -0.08 | -0.08 | 56 | Derivative Income | SPXL vs USOY | |
| ProShares K-1 Free Crude Oil Strategy ETF | -0.28 | -0.02 | 0.10 | 55 | Oil & Gas | SPXL vs OILK |
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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 -0.19, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.19 | 0.02 | 0.14 | 69 | Consumer Defensive | |
| Exxon Mobil Corporation | -0.15 | 0.06 | 0.20 | 85 | Energy | |
| Duke Energy Corporation | -0.14 | 0.00 | 0.12 | 53 | Utilities | |
| ConocoPhillips Company | -0.11 | 0.09 | 0.22 | 76 | Energy | |
| Chevron Corporation | -0.11 | 0.09 | 0.22 | 83 | Energy |
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