Looking to balance out your exposure to DVN? The ETFs below have historically moved differently from DVN, 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 DVN
256 ETFs have low correlation with DVN (below 0.3), 210 of which are negatively correlated. The least correlated is Vanguard Tax-Exempt Bond ETF (VTEB) (Municipal Bonds) with a 1Y correlation of -0.31, down from -0.08 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Tax-Exempt Bond ETF | -0.31 | -0.10 | -0.08 | 66 | Municipal Bonds | DVN vs VTEB | |
| PIMCO Multisector Bond Active Exchange-Traded Fund | -0.29 | -0.07 | — | 60 | Multisector Bonds | DVN vs PYLD | |
| Vanguard Short-Term Corporate Bond ETF | -0.27 | -0.11 | -0.04 | 68 | Corporate Bonds | DVN vs VCSH | |
| JPMorgan Income ETF | -0.27 | -0.03 | — | 94 | Multisector Bonds | DVN vs JPIE | |
| iShares National AMT-Free Muni Bond ETF | -0.26 | -0.08 | -0.08 | 57 | Municipal Bonds | DVN vs MUB |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for DVN, 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 Delta Air Lines, Inc. (DAL) (Industrials) with a 1Y correlation of -0.25, down from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Delta Air Lines, Inc. | -0.25 | 0.01 | 0.15 | 89 | Industrials | |
| General Electric Company | -0.24 | 0.00 | 0.18 | 75 | Industrials | |
| ASML Holding N.V. | -0.23 | 0.02 | 0.12 | 96 | Technology | |
| Alphabet Inc. Class A | -0.22 | -0.02 | 0.10 | 95 | Communication Services | |
| The Bank of Nova Scotia | -0.20 | 0.04 | 0.23 | 97 | Financial Services |
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