Looking to diversify beyond ELM? The ETFs below have the lowest correlation with ELM — 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 ELM.
Best Diversifiers for ELM
242 ETFs have low correlation with ELM (below 0.3), 51 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Defiance Daily Target 2X Short MSTR ETF | -0.42 | — | — | 53 | Inverse Equities | ELM vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.42 | — | — | 60 | Inverse Equities, Leveraged Equities | ELM vs MSTZ | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.40 | — | — | 65 | Derivative Income | ELM vs WNTR | |
| ProShares UltraShort Yen | -0.32 | — | — | 75 | Leveraged Currency | ELM vs YCS | |
| United States Gasoline Fund LP | -0.24 | — | — | 72 | Oil & Gas | ELM vs UGA |
See all 2055 diversifiers for ELM
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Diversification Analysis
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