Looking to diversify beyond EFNL? The ETFs below have historically moved differently from EFNL, 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 EFNL
460 ETFs have low correlation with EFNL (below 0.3), 73 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.33, down from -0.20 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.33 | -0.23 | -0.20 | 56 | Leveraged Currency | EFNL vs YCS | |
| Alpha Architect Tail Risk ETF | -0.31 | -0.08 | — | 56 | Options Trading | EFNL vs CAOS | |
| ProShares Short Bitcoin ETF | -0.30 | -0.24 | — | 61 | Cryptocurrency | EFNL vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.30 | — | — | 55 | Cryptocurrency, Leveraged Cryptocurrency | EFNL vs SBIT | |
| Defiance Daily Target 2X Short MSTR ETF | -0.27 | — | — | 52 | Inverse Equities | EFNL vs SMST |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for EFNL, 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 NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of 0.30, roughly unchanged from 0.38 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | 0.30 | 0.27 | 0.38 | 56 | Technology |
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