Looking to balance out your exposure to ELV? The ETFs below have the lowest correlation with ELV — they tend to move on their own, which can help reduce risk when ELV drops. The stock ideas table highlights individual companies that behave independently from ELV.
Best Diversifiers for ELV
213 ETFs have low correlation with ELV (below 0.3), 18 of which are negatively correlated. The least correlated is Vanguard Ultra-Short Bond ETF (VUSB) (Ultrashort Bond) with a 1Y correlation of -0.06, roughly unchanged from -0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Ultra-Short Bond ETF | -0.06 | -0.02 | -0.01 | 99 | Ultrashort Bond | ELV vs VUSB | |
| Vanguard Short-Term Treasury ETF | -0.03 | -0.03 | -0.01 | 89 | Government Bonds, Short-Term Bond | ELV vs VGSH | |
| Vanguard Tax-Exempt Bond ETF | -0.03 | 0.03 | 0.03 | 80 | Municipal Bonds | ELV vs VTEB | |
| JPMorgan Income ETF | -0.03 | 0.01 | 0.08 | 95 | Multisector Bonds | ELV vs JPIE | |
| PIMCO Multisector Bond Active Exchange-Traded Fund | -0.03 | 0.03 | — | 74 | Multisector Bonds | ELV vs PYLD |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ELV, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ELV and solid risk/return profiles. The least correlated is AppLovin Corporation (APP) (Communication Services) with a 1Y correlation of -0.12, down from 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AppLovin Corporation | -0.12 | -0.09 | 0.01 | 56 | Communication Services | |
| GE Vernova Inc. | -0.10 | -0.05 | -0.05 | 86 | Industrials | |
| Applied Digital Corporation | -0.10 | -0.04 | 0.00 | 85 | Technology | |
| Broadcom Inc. | -0.09 | -0.05 | 0.06 | 67 | Technology | |
| Celestica Inc. | -0.09 | -0.05 | 0.06 | 79 | Technology |
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