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
244 ETFs have low correlation with ENB (below 0.3), 102 of which are negatively correlated. The least correlated is Fidelity Nasdaq Composite Index ETF (ONEQ) (Large Cap Growth Equities) with a 1Y correlation of -0.19, down from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Nasdaq Composite Index ETF | -0.19 | 0.08 | 0.24 | 54 | Large Cap Growth Equities | ENB vs ONEQ | |
| NEOS Nasdaq-100 High Income ETF | -0.18 | — | — | 54 | Nasdaq-100, Derivative Income | ENB vs QQQI | |
| Invesco QQQ ETF | -0.18 | 0.07 | 0.22 | 59 | Nasdaq-100 | ENB vs QQQ | |
| JPMorgan Nasdaq Equity Premium Income ETF | -0.18 | 0.08 | — | 64 | Nasdaq-100, Derivative Income | ENB vs JEPQ | |
| State Street Technology Select Sector SPDR ETF | -0.17 | 0.06 | 0.21 | 66 | Technology Equities | ENB vs XLK |
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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 Block, Inc (XYZ) (Technology) with a 1Y correlation of -0.18, down from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Block, Inc | -0.18 | 0.08 | 0.21 | 53 | Technology | |
| Amazon.com, Inc | -0.18 | 0.01 | 0.16 | 52 | Consumer Cyclical | |
| Micron Technology, Inc. | -0.16 | 0.03 | 0.13 | 99 | Technology | |
| CRISPR Therapeutics AG | -0.15 | 0.05 | 0.14 | 51 | Healthcare | |
| Cloudflare, Inc. | -0.15 | 0.05 | 0.15 | 55 | Technology |
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Build a portfolio that complements ENB
Add ENB to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
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