Looking to diversify beyond DNL? The ETFs below have the lowest correlation with DNL — 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 DNL.
Best Diversifiers for DNL
324 ETFs have low correlation with DNL (below 0.3), 76 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.38, down from -0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.38 | -0.21 | -0.19 | 61 | Leveraged Currency | DNL vs YCS | |
| Invesco DB Energy Fund | -0.38 | -0.06 | 0.08 | 71 | Oil & Gas | DNL vs DBE | |
| United States Oil Fund LP | -0.37 | -0.06 | 0.08 | 66 | Oil & Gas | DNL vs USO | |
| United States Brent Oil Fund LP | -0.36 | -0.06 | 0.08 | 65 | Oil & Gas | DNL vs BNO | |
| Defiance Oil Enhanced Options Income ETF | -0.36 | — | — | 56 | Derivative Income | DNL vs USOY |
See all 2114 diversifiers for DNL
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