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
4 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 0.04, roughly unchanged from 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SPDR Bloomberg 1-3 Month T-Bill ETF | 0.04 | -0.01 | 0.01 | 100 | Government Bonds, Ultrashort Bond | EL vs BIL | |
| Vanguard Information Technology ETF | 0.23 | 0.26 | 0.43 | 50 | Technology Equities | EL vs VGT | |
| iShares MSCI Singapore ETF | 0.26 | 0.29 | 0.40 | 58 | Asia Pacific Equities | EL vs EWS | |
| Invesco QQQ ETF | 0.30 | 0.30 | 0.45 | 53 | Nasdaq-100 | EL vs QQQ | |
| Vanguard International High Dividend Yield ETF | 0.36 | 0.38 | 0.47 | 84 | Dividend, Foreign Large Cap Equities | EL vs VYMI |
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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 Enbridge Inc. (ENB) (Energy) with a 1Y correlation of -0.16, down from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Enbridge Inc. | -0.16 | 0.07 | 0.20 | 88 | Energy | |
| Equinor ASA | -0.16 | 0.04 | 0.07 | 77 | Energy | |
| Enterprise Products Partners L.P. | -0.13 | 0.11 | 0.18 | 87 | Energy | |
| Kinder Morgan, Inc. | -0.10 | 0.08 | 0.17 | 77 | Energy | |
| Exxon Mobil Corporation | -0.08 | 0.07 | 0.14 | 78 | Energy |
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