Looking to balance out your exposure to EL? The ETFs below have the lowest correlation with EL — they tend to move on their own, which can help reduce risk when EL drops. The stock ideas table highlights individual companies that behave independently from EL.
Best Diversifiers for EL
2 ETFs have low correlation with EL (below 0.3), 0 of which are negatively correlated. The least correlated is SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) (Government Bonds) with a 1Y correlation of 0.02, roughly unchanged from 0.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SPDR Bloomberg 1-3 Month T-Bill ETF | 0.02 | -0.01 | 0.00 | 100 | Government Bonds, Ultrashort Bond | EL vs BIL | |
| Vanguard Information Technology ETF | 0.27 | 0.28 | 0.45 | 76 | Technology Equities | EL vs VGT | |
| Vanguard International High Dividend Yield ETF | 0.34 | 0.38 | 0.47 | 66 | Dividend, Foreign Large Cap Equities | EL vs VYMI | |
| Vanguard S&P 500 ETF | 0.39 | 0.39 | 0.52 | 70 | S&P 500 | EL vs VOO | |
| State Street SPDR S&P 500 ETF | 0.39 | 0.39 | 0.52 | 70 | S&P 500 | EL vs SPY |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from EL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to EL and solid risk/return profiles. The least correlated is Equinor ASA (EQNR) (Energy) with a 1Y correlation of -0.10, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Equinor ASA | -0.10 | 0.05 | 0.09 | 82 | Energy | |
| Kinder Morgan, Inc. | -0.09 | 0.09 | 0.18 | 60 | Energy | |
| Enterprise Products Partners L.P. | -0.05 | 0.14 | 0.20 | 85 | Energy | |
| Nutrien Ltd. | -0.04 | 0.16 | 0.19 | 58 | Basic Materials | |
| Altria Group, Inc. | -0.03 | 0.11 | 0.16 | 69 | Consumer Defensive |
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