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
254 ETFs have low correlation with DVN (below 0.3), 200 of which are negatively correlated. The least correlated is PIMCO Active Bond ETF (BOND) (Intermediate Core-Plus Bond) with a 1Y correlation of -0.29, down from -0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PIMCO Active Bond ETF | -0.29 | -0.10 | -0.06 | 51 | Intermediate Core-Plus Bond | DVN vs BOND | |
| Vanguard Tax-Exempt Bond ETF | -0.26 | -0.08 | -0.08 | 80 | Municipal Bonds | DVN vs VTEB | |
| Vanguard Emerging Markets Government Bond ETF | -0.26 | 0.01 | 0.09 | 64 | Emerging Markets Bonds | DVN vs VWOB | |
| Vanguard Short-Term Corporate Bond ETF | -0.25 | -0.10 | -0.04 | 83 | Corporate Bonds | DVN vs VCSH | |
| JPMorgan Income ETF | -0.24 | -0.02 | 0.06 | 96 | Multisector Bonds | DVN vs JPIE |
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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 -0.24, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| General Electric Company | -0.24 | 0.00 | 0.19 | 76 | Industrials | |
| ASML Holding N.V. | -0.22 | 0.02 | 0.13 | 95 | Technology | |
| Lam Research Corporation | -0.20 | 0.04 | 0.15 | 97 | Technology | |
| Alphabet Inc. Class A | -0.19 | -0.00 | 0.12 | 97 | Communication Services | |
| The Bank of Nova Scotia | -0.19 | 0.06 | 0.24 | 98 | Financial Services |
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