Looking to balance out your exposure to EG? The ETFs below have the lowest correlation with EG — they tend to move on their own, which can help reduce risk when EG drops. The stock ideas table highlights individual companies that behave independently from EG.
Best Diversifiers for EG
7 ETFs have low correlation with EG (below 0.3), 4 of which are negatively correlated. The least correlated is Direxion Daily Semiconductor Bull 3X ETF (SOXL) (Leveraged Equities) with a 1Y correlation of -0.09, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Direxion Daily Semiconductor Bull 3X ETF | -0.09 | 0.04 | 0.15 | 97 | Leveraged Equities, Semiconductors | EG vs SOXL | |
| iMGP DBi Managed Futures Strategy ETF | -0.08 | 0.04 | 0.06 | 83 | Systematic Trend | EG vs DBMF | |
| Invesco QQQ ETF | -0.01 | 0.09 | 0.19 | 73 | Nasdaq-100 | EG vs QQQ | |
| Invesco NASDAQ 100 ETF | -0.01 | 0.10 | 0.19 | 74 | Nasdaq-100 | EG vs QQQM | |
| IQ Hedge Multi-Strategy Tracker ETF | 0.10 | 0.20 | 0.25 | 85 | Long-Short | EG vs QAI |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from EG, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to EG and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of -0.14, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | -0.14 | -0.00 | 0.10 | 78 | Technology | |
| Jabil Inc. | -0.09 | 0.08 | 0.21 | 92 | Technology | |
| Everpure, Inc. | -0.08 | 0.02 | 0.12 | 64 | Technology | |
| Comfort Systems USA, Inc. | -0.02 | 0.10 | 0.25 | 98 | Industrials | |
| Amazon.com, Inc | -0.02 | 0.03 | 0.10 | 60 | Consumer Cyclical |
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Build a portfolio that complements EG
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