Looking to balance out your exposure to TSLA? The ETFs below have the lowest correlation with TSLA — they tend to move on their own, which can help reduce risk when TSLA drops. The stock ideas table highlights individual companies that behave independently from TSLA.
Best Diversifiers for TSLA
80 ETFs have low correlation with TSLA (below 0.3), 6 of which are negatively correlated. The least correlated is WisdomTree Floating Rate Treasury Fund (USFR) (Government Bonds) with a 1Y correlation of -0.06, roughly unchanged from -0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| WisdomTree Floating Rate Treasury Fund | -0.06 | -0.02 | -0.04 | 100 | Government Bonds, Ultrashort Bond | TSLA vs USFR | |
| Global X MLP & Energy Infrastructure ETF | -0.04 | 0.14 | 0.21 | 57 | MLPs | TSLA vs MLPX | |
| iShares Core High Dividend ETF | -0.04 | 0.08 | 0.16 | 82 | Dividend, Large Cap Value Equities | TSLA vs HDV | |
| F/m US Treasury 3 Month Bill ETF | -0.02 | 0.02 | — | 100 | Ultrashort Bond | TSLA vs TBIL | |
| iShares 0-3 Month Treasury Bond ETF | -0.01 | 0.01 | -0.03 | 100 | Ultrashort Bond | TSLA vs SGOV |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from TSLA, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to TSLA and solid risk/return profiles. The least correlated is Consolidated Edison, Inc. (ED) (Utilities) with a 1Y correlation of -0.26, down from -0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Consolidated Edison, Inc. | -0.26 | -0.15 | -0.09 | 71 | Utilities | |
| The Coca-Cola Company | -0.23 | -0.09 | 0.00 | 79 | Consumer Defensive | |
| Chubb Limited | -0.21 | -0.08 | 0.02 | 77 | Financial Services | |
| Duke Energy Corporation | -0.19 | -0.12 | -0.07 | 68 | Utilities | |
| Altria Group, Inc. | -0.18 | -0.05 | -0.02 | 79 | Consumer Defensive |
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