Looking to diversify beyond ELD? The ETFs below have the lowest correlation with ELD — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from ELD.
Best Diversifiers for ELD
339 ETFs have low correlation with ELD (below 0.3), 39 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.37, roughly unchanged from -0.34 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.37 | -0.33 | -0.34 | 75 | Leveraged Currency | ELD vs YCS | |
| Defiance Daily Target 2X Short MSTR ETF | -0.27 | — | — | 53 | Inverse Equities | ELD vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.26 | — | — | 60 | Inverse Equities, Leveraged Equities | ELD vs MSTZ | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.26 | — | — | 65 | Derivative Income | ELD vs WNTR | |
| iShares iBonds Oct 2026 Term TIPS ETF | -0.22 | — | — | 98 | Inflation-Protected Bonds | ELD vs IBIC |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ELD, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ELD and solid risk/return profiles. The least correlated is Newmont Corporation (NEM) (Basic Materials) with a 1Y correlation of 0.44, roughly unchanged from 0.36 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Newmont Corporation | 0.44 | 0.41 | 0.36 | 78 | Basic Materials |
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