Looking to balance out your exposure to TPL? The ETFs below have the lowest correlation with TPL — they tend to move on their own, which can help reduce risk when TPL drops. The stock ideas table highlights individual companies that behave independently from TPL.
Best Diversifiers for TPL
261 ETFs have low correlation with TPL (below 0.3), 14 of which are negatively correlated. The least correlated is WisdomTree Floating Rate Treasury Fund (USFR) (Government Bonds) with a 1Y correlation of -0.12, roughly unchanged from -0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| WisdomTree Floating Rate Treasury Fund | -0.12 | -0.05 | -0.06 | 100 | Government Bonds, Ultrashort Bond | TPL vs USFR | |
| Vanguard Short-Term Tax-Exempt Bond ETF Shares | -0.11 | 0.00 | — | 73 | Municipal Bonds | TPL vs VTES | |
| iShares 0-1 Year Treasury Bond ETF | -0.05 | -0.03 | -0.04 | 100 | Government Bonds, Ultrashort Bond | TPL vs SHV | |
| Schwab Short-Term U.S. Treasury ETF | -0.05 | -0.07 | -0.06 | 81 | Government Bonds, Short-Term Bond | TPL vs SCHO | |
| ProShares UltraShort Yen | -0.05 | -0.01 | 0.02 | 61 | Leveraged Currency | TPL vs YCS |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from TPL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to TPL and solid risk/return profiles. The least correlated is Monster Beverage Corporation (MNST) (Consumer Defensive) with a 1Y correlation of -0.05, down from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Monster Beverage Corporation | -0.05 | 0.00 | 0.08 | 79 | Consumer Defensive | |
| Cboe Global Markets, Inc. | -0.05 | -0.06 | 0.07 | 68 | Financial Services | |
| Apple Inc | -0.04 | 0.04 | 0.15 | 89 | Technology | |
| Casey's General Stores, Inc. | -0.04 | 0.07 | 0.17 | 94 | Consumer Defensive | |
| Palo Alto Networks, Inc. | -0.04 | 0.06 | 0.10 | 67 | Technology |
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