Looking to balance out your exposure to EGO? The ETFs below have the lowest correlation with EGO — they tend to move on their own, which can help reduce risk when EGO drops. The stock ideas table highlights individual companies that behave independently from EGO.
Best Diversifiers for EGO
5 ETFs have low correlation with EGO (below 0.3), 1 of which are negatively correlated. The least correlated is State Street Energy Select Sector SPDR ETF (XLE) (Energy Equities) with a 1Y correlation of -0.05, down from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Energy Select Sector SPDR ETF | -0.05 | 0.06 | 0.20 | 59 | Energy Equities | EGO vs XLE | |
| iShares Core High Dividend ETF | 0.09 | 0.13 | 0.22 | 85 | Dividend, Large Cap Value Equities | EGO vs HDV | |
| Invesco QQQ ETF | 0.29 | 0.22 | 0.21 | 53 | Nasdaq-100 | EGO vs QQQ | |
| Nomura Focused Emerging Markets Equity ETF | 0.30 | — | — | 91 | Emerging Markets Diversified | EGO vs EMEQ | |
| Franklin FTSE South Korea ETF | 0.30 | 0.28 | 0.32 | 86 | South Korea Equities, Asia Pacific Equities | EGO vs FLKR |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from EGO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to EGO and solid risk/return profiles. The least correlated is Enterprise Products Partners L.P. (EPD) (Energy) with a 1Y correlation of -0.11, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Enterprise Products Partners L.P. | -0.11 | 0.05 | 0.18 | 87 | Energy | |
| Exxon Mobil Corporation | -0.07 | 0.03 | 0.16 | 78 | Energy | |
| Western Midstream Partners, LP | -0.03 | 0.06 | 0.16 | 77 | Energy | |
| Antero Midstream Corporation | -0.03 | 0.12 | 0.22 | 85 | Energy | |
| MPLX LP | -0.02 | 0.12 | 0.21 | 82 | Energy |
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Build a portfolio that complements EGO
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