Looking to balance out your exposure to EIX? The ETFs below have the lowest correlation with EIX — they tend to move on their own, which can help reduce risk when EIX drops. The stock ideas table highlights individual companies that behave independently from EIX.
Best Diversifiers for EIX
10 ETFs have low correlation with EIX (below 0.3), 1 of which are negatively correlated. The least correlated is First Trust Global Tactical Commodity Strategy Fund (FTGC) (Commodities) with a 1Y correlation of -0.03, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| First Trust Global Tactical Commodity Strategy Fun... | -0.03 | 0.05 | 0.10 | 81 | Commodities | EIX vs FTGC | |
| JPMorgan Nasdaq Equity Premium Income ETF | 0.02 | 0.09 | — | 74 | Nasdaq-100, Derivative Income | EIX vs JEPQ | |
| JPMorgan Ultra-Short Income ETF | 0.10 | 0.13 | 0.08 | 99 | Ultrashort Bond | EIX vs JPST | |
| Vanguard Total Stock Market ETF | 0.14 | 0.25 | 0.32 | 68 | Large Cap Blend Equities | EIX vs VTI | |
| Amplify CWP International Enhanced Dividend Income... | 0.18 | 0.25 | — | 67 | Derivative Income, Dividend, Foreign Large Cap Equities | EIX vs IDVO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from EIX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to EIX and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of -0.12, down from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | -0.12 | -0.08 | 0.04 | 78 | Technology | |
| Amazon.com, Inc | -0.10 | -0.01 | 0.10 | 60 | Consumer Cyclical | |
| Broadcom Inc. | -0.09 | -0.04 | 0.09 | 84 | Technology | |
| Alphabet Inc. Class A | -0.03 | 0.03 | 0.13 | 96 | Communication Services | |
| Global Ship Lease, Inc. | -0.03 | 0.05 | 0.10 | 86 | Industrials |
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Build a portfolio that complements EIX
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