Looking to balance out your exposure to ELVA? The ETFs below have the lowest correlation with ELVA — they tend to move on their own, which can help reduce risk when ELVA drops. The stock ideas table highlights individual companies that behave independently from ELVA.
Best Diversifiers for ELVA
0 ETFs have low correlation with ELVA (below 0.3), 0 of which are negatively correlated. The least correlated is iShares MSCI South Korea ETF (EWY) (Asia Pacific Equities) with a 1Y correlation of 0.34, roughly unchanged from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares MSCI South Korea ETF | 0.34 | 0.23 | 0.25 | 96 | Asia Pacific Equities | ELVA vs EWY | |
| Global X Copper Miners ETF | 0.36 | 0.22 | 0.27 | 75 | Materials | ELVA vs COPX |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ELVA, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ELVA and solid risk/return profiles. The least correlated is Cardinal Health, Inc. (CAH) (Healthcare) with a 1Y correlation of -0.03, roughly unchanged from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cardinal Health, Inc. | -0.03 | -0.02 | 0.03 | 68 | Healthcare | |
| Eli Lilly and Company | 0.02 | 0.03 | 0.02 | 72 | Healthcare | |
| Merck & Co., Inc. | 0.06 | 0.07 | 0.03 | 87 | Healthcare | |
| Madrigal Pharmaceuticals, Inc. | 0.13 | 0.06 | 0.08 | 79 | Healthcare | |
| Erasca, Inc. | 0.13 | 0.10 | — | 98 | Healthcare |
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