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
94 ETFs have low correlation with TSLA (below 0.3), 19 of which are negatively correlated. The least correlated is United States Oil Fund LP (USO) (Oil & Gas) with a 1Y correlation of -0.16, down from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.16 | -0.01 | 0.03 | 54 | Oil & Gas | TSLA vs USO | |
| Global X MLP & Energy Infrastructure ETF | -0.12 | 0.12 | 0.20 | 76 | MLPs | TSLA vs MLPX | |
| iShares Global Energy ETF | -0.12 | 0.07 | 0.12 | 75 | Energy Equities | TSLA vs IXC | |
| State Street Energy Select Sector SPDR ETF | -0.11 | 0.06 | 0.10 | 69 | Energy Equities | TSLA vs XLE | |
| iShares Core High Dividend ETF | -0.11 | 0.06 | 0.15 | 87 | Dividend, Large Cap Value Equities | TSLA vs HDV |
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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 -0.29, down from -0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Consolidated Edison, Inc. | -0.29 | -0.15 | -0.09 | 68 | Utilities | |
| The Coca-Cola Company | -0.24 | -0.11 | -0.00 | 80 | Consumer Defensive | |
| Altria Group, Inc. | -0.24 | -0.07 | -0.03 | 84 | Consumer Defensive | |
| Chubb Limited | -0.24 | -0.08 | 0.02 | 87 | Financial Services | |
| Waste Management, Inc. | -0.23 | -0.06 | 0.04 | 54 | Industrials |
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Build a portfolio that complements TSLA
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