Looking to diversify beyond SPXP.L? The ETFs below have the lowest correlation with SPXP.L — 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 SPXP.L.
Best Diversifiers for SPXP.L
15 ETFs have low correlation with SPXP.L (below 0.3), 9 of which are negatively correlated. The least correlated is Invesco Bloomberg Commodity UCITS ETF (CMOD.L) (Commodities) with a 1Y correlation of -0.14, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco Bloomberg Commodity UCITS ETF | -0.14 | 0.08 | 0.17 | 72 | Commodities | SPXP.L vs CMOD.L | |
| iShares S&P 500 Energy Sector UCITS ETF USD (Acc) | -0.10 | 0.16 | 0.28 | 57 | Energy Equities, S&P 500 | SPXP.L vs IUES.L | |
| Invesco US Treasury Bond 0-1 Year UCITS ETF GBP He... | -0.09 | -0.10 | — | 97 | Short-Term Bond | SPXP.L vs TIGB.L | |
| Invesco Bloomberg Commodity UCITS ETF Acc | -0.06 | 0.11 | 0.14 | 68 | Commodities | SPXP.L vs CMOP.L | |
| Invesco S&P World Energy Targeted & Screened UCITS... | -0.06 | 0.25 | 0.25 | 66 | Energy Equities | SPXP.L vs WDEE.L |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SPXP.L, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SPXP.L and solid risk/return profiles. The least correlated is Coca Cola HBC AG (CCH.L) (Consumer Defensive) with a 1Y correlation of -0.01, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Coca Cola HBC AG | -0.01 | 0.07 | 0.19 | 52 | Consumer Defensive | |
| JP Morgan Global Growth & Income plc | 0.69 | 0.73 | 0.70 | 76 | Financial Services |
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