Looking to balance out your exposure to DGE.L? The ETFs below have the lowest correlation with DGE.L — they tend to move on their own, which can help reduce risk when DGE.L drops. The stock ideas table highlights individual companies that behave independently from DGE.L.
Best Diversifiers for DGE.L
2 ETFs have low correlation with DGE.L (below 0.3), 1 of which are negatively correlated. The least correlated is HSBC MSCI World UCITS ETF (HMWO.L) (Global Equities) with a 1Y correlation of -0.00, down from 0.31 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| HSBC MSCI World UCITS ETF | -0.00 | 0.21 | 0.31 | 78 | Global Equities | DGE.L vs HMWO.L | |
| Scottish Mortgage Investment Trust plc | 0.01 | 0.15 | 0.22 | 79 | Global Equities | DGE.L vs SMT.L |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from DGE.L, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to DGE.L and solid risk/return profiles. The least correlated is Rolls-Royce Holdings PLC (RR.L) (Industrials) with a 1Y correlation of -0.11, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Rolls-Royce Holdings PLC | -0.11 | 0.01 | 0.10 | 75 | Industrials | |
| Glencore plc | 0.00 | 0.17 | 0.15 | 96 | Basic Materials | |
| M&G plc | 0.02 | 0.20 | 0.23 | 88 | Financial Services | |
| Halma plc | 0.02 | 0.20 | 0.31 | 93 | Industrials | |
| Tesco PLC | 0.03 | 0.15 | 0.18 | 66 | Consumer Defensive |
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