Looking to balance out your exposure to DNP? The ETFs below have the lowest correlation with DNP — they tend to move on their own, which can help reduce risk when DNP drops. The stock ideas table highlights individual companies that behave independently from DNP.
Best Diversifiers for DNP
27 ETFs have low correlation with DNP (below 0.3), 3 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.21, down from -0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.21 | -0.06 | -0.06 | 100 | Ultrashort Bond | DNP vs SGOV | |
| iShares 0-1 Year Treasury Bond ETF | -0.08 | 0.03 | 0.02 | 100 | Government Bonds, Ultrashort Bond | DNP vs SHV | |
| iShares Treasury Floating Rate Bond ETF | -0.06 | -0.06 | -0.09 | 100 | Government Bonds, Ultrashort Bond | DNP vs TFLO | |
| VanEck CLO ETF | 0.05 | 0.03 | — | 97 | CLO | DNP vs CLOI | |
| VanEck AA-BB CLO ETF | 0.07 | 0.14 | 0.14 | 72 | CLO | DNP vs CLOB |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from DNP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to DNP and solid risk/return profiles. The least correlated is Warner Bros. Discovery, Inc. (WBD) (Communication Services) with a 1Y correlation of 0.11, down from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Warner Bros. Discovery, Inc. | 0.11 | 0.22 | 0.24 | 97 | Communication Services | |
| RWE AG PK | 0.14 | 0.21 | 0.25 | 89 | Utilities | |
| Capital Southwest Corporation | 0.16 | 0.25 | 0.28 | 73 | Financial Services | |
| Powell Industries, Inc. | 0.20 | 0.18 | 0.21 | 98 | Industrials | |
| Federal Realty Investment Trust | 0.24 | 0.34 | 0.38 | 89 | Real Estate |
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