Looking to diversify beyond XLV? The ETFs below have the lowest correlation with XLV — 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 XLV.
Best Diversifiers for XLV
757 ETFs have low correlation with XLV (below 0.3), 53 of which are negatively correlated. The least correlated is ProShares Ultra Bloomberg Crude Oil (UCO) (Leveraged Commodities) with a 1Y correlation of -0.31, down from -0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Ultra Bloomberg Crude Oil | -0.31 | -0.17 | -0.04 | 54 | Leveraged Commodities | XLV vs UCO | |
| ProShares K-1 Free Crude Oil Strategy ETF | -0.31 | -0.16 | -0.04 | 55 | Oil & Gas | XLV vs OILK | |
| United States Oil Fund LP | -0.31 | -0.17 | -0.05 | 66 | Oil & Gas | XLV vs USO | |
| United States Brent Oil Fund LP | -0.31 | -0.17 | -0.05 | 65 | Oil & Gas | XLV vs BNO | |
| Invesco DB Oil Fund | -0.29 | -0.16 | -0.04 | 65 | Oil & Gas | XLV vs DBO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from XLV, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to XLV and solid risk/return profiles. The least correlated is Petróleo Brasileiro S.A. - Petrobras (PBR) (Energy) with a 1Y correlation of -0.13, down from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Petróleo Brasileiro S.A. - Petrobras | -0.13 | 0.02 | 0.04 | 86 | Energy | |
| Oracle Corporation | -0.07 | 0.18 | 0.31 | 58 | Technology | |
| Credo Technology Group Holding Ltd | -0.04 | 0.08 | 0.14 | 85 | Technology | |
| Broadcom Inc. | -0.03 | 0.09 | 0.24 | 84 | Technology | |
| Chevron Corporation | -0.03 | 0.11 | 0.19 | 83 | Energy |
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