Looking to diversify beyond XOP? The ETFs below have historically moved differently from XOP, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for XOP
1628 ETFs have low correlation with XOP (below 0.3), 1246 of which are negatively correlated. The least correlated is Invesco BulletShares 2032 Municipal Bond ETF (BSMW) (Municipal Bonds) with a 1Y correlation of -0.35, down from -0.13 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco BulletShares 2032 Municipal Bond ETF | -0.35 | -0.13 | — | 65 | Municipal Bonds | XOP vs BSMW | |
| Fidelity Municipal Bond Opportunities ETF | -0.34 | — | — | 76 | Municipal Bonds | XOP vs FMUB | |
| Avantis Short-Term Fixed Income ETF | -0.33 | -0.12 | -0.06 | 72 | Short-Term Bond | XOP vs AVSF | |
| Franklin Liberty Federal Intermediate Tax-Free Bon... | -0.32 | -0.09 | -0.07 | 82 | Municipal Bonds | XOP vs FLMI | |
| Vanguard Short Duration Bond ETF Shares | -0.32 | -0.26 | -0.26 | 89 | Short-Term Bond | XOP vs VSDB |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for XOP, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Monster Beverage Corporation (MNST) (Consumer Defensive) with a 1Y correlation of -0.21, down from 0.06 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Monster Beverage Corporation | -0.21 | -0.02 | 0.06 | 94 | Consumer Defensive | |
| General Electric Company | -0.20 | 0.04 | 0.24 | 74 | Industrials | |
| ASML Holding N.V. | -0.19 | 0.05 | 0.18 | 96 | Technology | |
| Alphabet Inc. Class A | -0.19 | 0.02 | 0.15 | 95 | Communication Services | |
| The Bank of Nova Scotia | -0.19 | 0.09 | 0.30 | 97 | Financial Services |
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