Looking to balance out your exposure to EG? The ETFs below have historically moved differently from EG, 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 EG
10 ETFs have low correlation with EG (below 0.3), 6 of which are negatively correlated. The least correlated is Direxion Daily Semiconductor Bull 3X ETF (SOXL) (Leveraged Equities) with a 1Y correlation of -0.20, down from 0.11 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Direxion Daily Semiconductor Bull 3X ETF | -0.20 | -0.01 | 0.11 | 91 | Leveraged Equities, Semiconductors | EG vs SOXL | |
| Invesco QQQ ETF | -0.14 | 0.05 | 0.17 | 58 | Nasdaq-100 | EG vs QQQ | |
| Invesco NASDAQ 100 ETF | -0.14 | 0.05 | 0.17 | 59 | Nasdaq-100 | EG vs QQQM | |
| iMGP DBi Managed Futures Strategy ETF | -0.14 | 0.01 | 0.02 | 89 | Systematic Trend | EG vs DBMF | |
| NYLI Hedge Multi-Strategy Tracker ETF | -0.04 | 0.16 | 0.22 | 83 | Long-Short | EG vs QAI |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for EG, 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 -0.22, down from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | -0.22 | -0.04 | 0.09 | 61 | Technology | |
| Jabil Inc. | -0.18 | 0.03 | 0.17 | 75 | Technology | |
| Everpure, Inc. | -0.14 | -0.01 | 0.10 | 67 | Technology | |
| Comfort Systems USA, Inc. | -0.10 | 0.07 | 0.22 | 95 | Industrials | |
| EMCOR Group, Inc. | -0.05 | 0.08 | 0.23 | 67 | Industrials |
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