Looking to balance out your exposure to DVN? The ETFs below have the lowest correlation with DVN — they tend to move on their own, which can help reduce risk when DVN drops. The stock ideas table highlights individual companies that behave independently from DVN.
Best Diversifiers for DVN
231 ETFs have low correlation with DVN (below 0.3), 167 of which are negatively correlated. The least correlated is Vanguard Tax-Exempt Bond ETF (VTEB) (Municipal Bonds) with a 1Y correlation of -0.25, down from -0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Tax-Exempt Bond ETF | -0.25 | -0.07 | -0.07 | 72 | Municipal Bonds | DVN vs VTEB | |
| Vanguard Emerging Markets Government Bond ETF | -0.25 | 0.03 | 0.09 | 58 | Emerging Markets Bonds | DVN vs VWOB | |
| Schwab Short-Term U.S. Treasury ETF | -0.24 | -0.15 | -0.12 | 76 | Government Bonds, Short-Term Bond | DVN vs SCHO | |
| PIMCO Multisector Bond Active Exchange-Traded Fund | -0.19 | -0.03 | -0.03 | 65 | Multisector Bonds | DVN vs PYLD | |
| Vanguard Short-Term Tax-Exempt Bond ETF | -0.19 | -0.07 | -0.10 | 71 | Municipal Bonds | DVN vs VTES |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from DVN, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to DVN and solid risk/return profiles. The least correlated is General Electric Company (GE) (Industrials) with a 1Y correlation of -0.21, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| General Electric Company | -0.21 | 0.03 | 0.19 | 78 | Industrials | |
| ASML Holding N.V. | -0.21 | 0.03 | 0.13 | 94 | Technology | |
| Lam Research Corporation | -0.17 | 0.04 | 0.15 | 98 | Technology | |
| Delta Air Lines, Inc. | -0.16 | 0.04 | 0.18 | 87 | Industrials | |
| Alphabet Inc. Class A | -0.16 | 0.00 | 0.12 | 96 | Communication Services |
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