Looking to balance out your exposure to ENB? The ETFs below have historically moved differently from ENB, 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 ENB
277 ETFs have low correlation with ENB (below 0.3), 145 of which are negatively correlated. The least correlated is Fidelity Nasdaq Composite Index ETF (ONEQ) (Large Cap Growth Equities) with a 1Y correlation of -0.23, down from 0.22 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Nasdaq Composite Index ETF | -0.23 | 0.06 | 0.22 | 55 | Large Cap Growth Equities | ENB vs ONEQ | |
| Invesco QQQ ETF | -0.22 | 0.05 | 0.20 | 55 | Nasdaq-100 | ENB vs QQQ | |
| JPMorgan Nasdaq Equity Premium Income ETF | -0.22 | 0.05 | — | 60 | Nasdaq-100, Derivative Income | ENB vs JEPQ | |
| Bridges Capital Tactical ETF | -0.21 | 0.09 | — | 72 | Tactical Allocation | ENB vs BDGS | |
| Goldman Sachs Nasdaq-100 Core Premium Income ETF | -0.21 | — | — | 65 | Nasdaq-100, Dividend | ENB vs GPIQ |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ENB, 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 Amazon.com, Inc (AMZN) (Consumer Cyclical) with a 1Y correlation of -0.20, down from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Amazon.com, Inc | -0.20 | -0.01 | 0.15 | 70 | Consumer Cyclical | |
| Alphabet Inc. Class A | -0.18 | -0.02 | 0.13 | 95 | Communication Services | |
| Arm Holdings plc American Depositary Shares | -0.17 | 0.01 | 0.01 | 79 | Technology | |
| Airbnb, Inc. | -0.17 | 0.06 | 0.18 | 59 | Consumer Cyclical | |
| Micron Technology, Inc. | -0.16 | 0.02 | 0.12 | 99 | Technology |
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