Looking to balance out your exposure to DNP? The ETFs below have historically moved differently from DNP, 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 DNP
50 ETFs have low correlation with DNP (below 0.3), 4 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.15, roughly unchanged from -0.05 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.15 | -0.05 | -0.05 | 100 | Ultrashort Bond | DNP vs SGOV | |
| iShares 0-1 Year Treasury Bond ETF | -0.06 | 0.03 | 0.02 | 100 | Government Bonds, Ultrashort Bond | DNP vs SHV | |
| PGIM AAA CLO ETF | -0.02 | 0.02 | — | 99 | CLO | DNP vs PAAA | |
| iShares Treasury Floating Rate Bond ETF | -0.01 | -0.05 | -0.08 | 100 | Government Bonds, Ultrashort Bond | DNP vs TFLO | |
| VanEck CLO ETF | 0.04 | 0.03 | — | 98 | CLO | DNP vs CLOI |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for DNP, 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 Kimbell Royalty Partners, LP (KRP) (Energy) with a 1Y correlation of 0.03, down from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Kimbell Royalty Partners, LP | 0.03 | 0.12 | 0.16 | 57 | Energy | |
| BlackRock Capital Allocation Term Trust | 0.09 | 0.18 | 0.26 | 95 | Financial Services | |
| RWE AG PK | 0.09 | 0.21 | 0.25 | 92 | Utilities | |
| PIMCO Dynamic Income Opportunities Fund | 0.10 | 0.26 | 0.29 | 64 | Financial Services | |
| Warner Bros. Discovery, Inc. | 0.12 | 0.22 | 0.24 | 96 | Communication Services |
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