Looking to diversify beyond UDOW? The ETFs below have the lowest correlation with UDOW — 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 UDOW.
Best Diversifiers for UDOW
285 ETFs have low correlation with UDOW (below 0.3), 71 of which are negatively correlated. The least correlated is Invesco DB Energy Fund (DBE) (Oil & Gas) with a 1Y correlation of -0.35, down from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Energy Fund | -0.35 | -0.10 | 0.08 | 71 | Oil & Gas | UDOW vs DBE | |
| United States Oil Fund LP | -0.33 | -0.09 | 0.07 | 66 | Oil & Gas | UDOW vs USO | |
| United States 12 Month Oil Fund LP | -0.33 | -0.08 | 0.09 | 56 | Oil & Gas | UDOW vs USL | |
| ProShares K-1 Free Crude Oil Strategy ETF | -0.33 | -0.07 | 0.09 | 55 | Oil & Gas | UDOW vs OILK | |
| United States Brent Oil Fund LP | -0.32 | -0.08 | 0.07 | 65 | Oil & Gas | UDOW vs BNO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from UDOW, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to UDOW and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of 0.27, down from 0.39 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | 0.27 | 0.29 | 0.39 | 78 | Technology | |
| Broadcom Inc. | 0.29 | 0.35 | 0.45 | 84 | Technology | |
| Tesla, Inc. | 0.34 | 0.36 | 0.40 | 55 | Consumer Cyclical |
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