Looking to balance out your exposure to ENB? The ETFs below have the lowest correlation with ENB — they tend to move on their own, which can help reduce risk when ENB drops. The stock ideas table highlights individual companies that behave independently from ENB.
Best Diversifiers for ENB
276 ETFs have low correlation with ENB (below 0.3), 153 of which are negatively correlated. The least correlated is Fidelity Nasdaq Composite Index ETF (ONEQ) (Large Cap Growth Equities) with a 1Y correlation of -0.24, down from 0.23 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Nasdaq Composite Index ETF | -0.24 | 0.06 | 0.23 | 57 | Large Cap Growth Equities | ENB vs ONEQ | |
| Bridges Capital Tactical ETF | -0.23 | 0.09 | — | 78 | Large Cap Blend Equities | ENB vs BDGS | |
| JPMorgan Nasdaq Equity Premium Income ETF | -0.23 | 0.06 | — | 67 | Nasdaq-100, Derivative Income | ENB vs JEPQ | |
| Invesco NASDAQ 100 ETF | -0.22 | 0.06 | 0.22 | 60 | Nasdaq-100 | ENB vs QQQM | |
| Invesco QQQ ETF | -0.22 | 0.05 | 0.21 | 59 | Nasdaq-100 | ENB vs QQQ |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ENB, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ENB and solid risk/return profiles. The least correlated is AppLovin Corporation (APP) (Communication Services) with a 1Y correlation of -0.21, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AppLovin Corporation | -0.21 | -0.01 | 0.12 | 59 | Communication Services | |
| Arm Holdings plc American Depositary Shares | -0.20 | 0.01 | 0.01 | 79 | Technology | |
| Airbnb, Inc. | -0.19 | 0.06 | 0.20 | 53 | Consumer Cyclical | |
| Amazon.com, Inc | -0.19 | -0.00 | 0.16 | 57 | Consumer Cyclical | |
| Block, Inc | -0.19 | 0.08 | 0.21 | 61 | Technology |
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Build a portfolio that complements ENB
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