Looking to balance out your exposure to EIX? The ETFs below have historically moved differently from EIX, 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 EIX
19 ETFs have low correlation with EIX (below 0.3), 4 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of -0.09, down from 0.17 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | -0.09 | 0.05 | 0.17 | 58 | Nasdaq-100 | EIX vs QQQ | |
| NEOS Nasdaq-100 High Income ETF | -0.08 | — | — | 52 | Nasdaq-100, Derivative Income | EIX vs QQQI | |
| JPMorgan Nasdaq Equity Premium Income ETF | -0.05 | 0.07 | — | 66 | Nasdaq-100, Derivative Income | EIX vs JEPQ | |
| First Trust Global Tactical Commodity Strategy Fun... | -0.05 | 0.00 | 0.09 | 86 | Commodities | EIX vs FTGC | |
| ProShares Ultra S&P500 | 0.03 | 0.21 | 0.31 | 67 | Leveraged Equities, S&P 500 | EIX vs SSO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for EIX, 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 CrowdStrike Holdings, Inc. (CRWD) (Technology) with a 1Y correlation of -0.19, down from 0.01 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| CrowdStrike Holdings, Inc. | -0.19 | -0.07 | 0.01 | 83 | Technology | |
| Datadog, Inc. | -0.18 | -0.04 | 0.05 | 83 | Technology | |
| Palo Alto Networks, Inc. | -0.16 | -0.03 | 0.04 | 90 | Technology | |
| Fortinet, Inc. | -0.13 | -0.00 | 0.09 | 82 | Technology | |
| NVIDIA Corporation | -0.13 | -0.08 | 0.04 | 61 | Technology |
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