Looking to balance out your exposure to ELA? The ETFs below have the lowest correlation with ELA — they tend to move on their own, which can help reduce risk when ELA drops. The stock ideas table highlights individual companies that behave independently from ELA.
Best Diversifiers for ELA
4 ETFs have low correlation with ELA (below 0.3), 0 of which are negatively correlated. The least correlated is State Street Health Care Select Sector SPDR ETF (XLV) (Health & Biotech Equities) with a 1Y correlation of 0.12, roughly unchanged from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Health Care Select Sector SPDR ETF | 0.12 | 0.15 | 0.18 | 50 | Health & Biotech Equities | ELA vs XLV | |
| Vanguard Short-Term Corporate Bond ETF | 0.20 | 0.13 | 0.11 | 80 | Corporate Bonds | ELA vs VCSH | |
| iShares Semiconductor ETF | 0.23 | 0.20 | 0.22 | 91 | Semiconductors, Technology Equities | ELA vs SOXX | |
| VanEck Semiconductor ETF | 0.24 | 0.19 | 0.21 | 90 | Semiconductors, Technology Equities | ELA vs SMH |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ELA, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ELA and solid risk/return profiles. The least correlated is Exxon Mobil Corporation (XOM) (Energy) with a 1Y correlation of -0.23, down from 0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | -0.23 | -0.04 | 0.02 | 78 | Energy | |
| Targa Resources Corp. | -0.04 | 0.07 | 0.10 | 94 | Energy | |
| United Therapeutics Corporation | -0.01 | 0.06 | 0.05 | 93 | Healthcare | |
| Cboe Global Markets, Inc. | 0.02 | -0.01 | 0.06 | 60 | Financial Services | |
| Accelleron Industries AG ADR | 0.02 | 0.09 | 0.08 | 62 | Industrials |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements ELA
Add ELA to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with ELA