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
88 ETFs have low correlation with TSLA (below 0.3), 10 of which are negatively correlated. The least correlated is United States Oil Fund LP (USO) (Oil & Gas) with a 1Y correlation of -0.14, down from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.14 | -0.01 | 0.04 | 63 | Oil & Gas | TSLA vs USO | |
| ProShares Ultra Bloomberg Crude Oil | -0.10 | 0.02 | 0.06 | 51 | Leveraged Commodities | TSLA vs UCO | |
| Invesco Optimum Yield Diversified Commodity Strate... | -0.06 | 0.05 | 0.08 | 70 | Commodities | TSLA vs PDBC | |
| Invesco DB Commodity Index Tracking Fund | -0.05 | 0.06 | 0.09 | 70 | Commodities | TSLA vs DBC | |
| Global X MLP & Energy Infrastructure ETF | -0.04 | 0.14 | 0.21 | 50 | MLPs | TSLA vs MLPX |
To view more results, upgrade your current subscription plan.
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 Chubb Limited (CB) (Financial Services) with a 1Y correlation of -0.20, down from 0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chubb Limited | -0.20 | -0.07 | 0.02 | 63 | Financial Services | |
| Consolidated Edison, Inc. | -0.18 | -0.12 | -0.09 | 53 | Utilities | |
| The Coca-Cola Company | -0.16 | -0.08 | 0.01 | 68 | Consumer Defensive | |
| The Allstate Corporation | -0.15 | -0.02 | 0.05 | 54 | Financial Services | |
| Cardinal Health, Inc. | -0.14 | -0.01 | 0.04 | 74 | Healthcare |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements TSLA
Add TSLA to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with TSLA