Looking to diversify beyond ELD? The ETFs below have historically moved differently from ELD, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for ELD
427 ETFs have low correlation with ELD (below 0.3), 76 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.36, roughly unchanged from -0.34 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.36 | -0.33 | -0.34 | 56 | Leveraged Currency | ELD vs YCS | |
| Defiance Daily Target 2X Short MSTR ETF | -0.31 | — | — | 52 | Inverse Equities | ELD vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.31 | — | — | 61 | Inverse Equities, Leveraged Equities | ELD vs MSTZ | |
| YieldMax MSTR Short Option Income Strategy ETF | -0.30 | — | — | 75 | Derivative Income | ELD vs WNTR | |
| ProShares Short Bitcoin ETF | -0.29 | -0.16 | — | 61 | Cryptocurrency | ELD vs BITI |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ELD, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Newmont Corporation (NEM) (Basic Materials) with a 1Y correlation of 0.45, roughly unchanged from 0.37 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Newmont Corporation | 0.45 | 0.41 | 0.37 | 74 | Basic Materials |
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