Looking to balance out your exposure to ELVN? The ETFs below have historically moved differently from ELVN, 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 ELVN
1 ETFs have low correlation with ELVN (below 0.3), 0 of which are negatively correlated. The least correlated is VanEck IG Floating Rate ETF (FLTR) (Corporate Bonds) with a 1Y correlation of 0.09, roughly unchanged from 0.11 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| VanEck IG Floating Rate ETF | 0.09 | 0.11 | 0.11 | 99 | Corporate Bonds, Ultrashort Bond | ELVN vs FLTR |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ELVN, 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 Philip Morris International Inc. (PM) (Consumer Defensive) with a 1Y correlation of -0.05, roughly unchanged from 0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Philip Morris International Inc. | -0.05 | 0.01 | 0.02 | 66 | Consumer Defensive | |
| Repsol SA | -0.04 | 0.07 | 0.08 | 97 | Energy | |
| Elbit Systems Ltd. | 0.04 | 0.08 | 0.07 | 85 | Industrials | |
| Restaurant Brands International Inc. | 0.05 | 0.09 | 0.11 | 62 | Consumer Cyclical | |
| Kinder Morgan, Inc. | 0.05 | 0.17 | 0.16 | 72 | Energy |
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