Looking to balance out your exposure to ELVN? The ETFs below have the lowest correlation with ELVN — they tend to move on their own, which can help reduce risk when ELVN drops. The stock ideas table highlights individual companies that behave independently from ELVN.
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 Vectors Investment Grade Floating Rate ETF (FLTR) (Corporate Bonds) with a 1Y correlation of 0.14, roughly unchanged from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| VanEck Vectors Investment Grade Floating Rate ETF | 0.14 | 0.10 | 0.11 | 99 | Corporate Bonds | ELVN vs FLTR |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ELVN, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ELVN and solid risk/return profiles. The least correlated is Repsol SA (REPYY) (Energy) with a 1Y correlation of -0.05, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Repsol SA | -0.05 | 0.07 | 0.09 | 95 | Energy | |
| Kinder Morgan, Inc. | 0.02 | 0.16 | 0.16 | 60 | Energy | |
| Elbit Systems Ltd | 0.04 | 0.09 | 0.07 | 88 | Industrials | |
| Applied Digital Corporation | 0.18 | 0.22 | 0.19 | 92 | Financial Services | |
| Insmed Incorporated | 0.24 | 0.28 | 0.27 | 62 | Healthcare |
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