Looking to balance out your exposure to ENLT? The ETFs below have the lowest correlation with ENLT — they tend to move on their own, which can help reduce risk when ENLT drops. The stock ideas table highlights individual companies that behave independently from ENLT.
Best Diversifiers for ENLT
3 ETFs have low correlation with ENLT (below 0.3), 2 of which are negatively correlated. The least correlated is United States Gasoline Fund LP (UGA) (Oil & Gas) with a 1Y correlation of -0.14, down from -0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Gasoline Fund LP | -0.14 | -0.04 | -0.02 | 69 | Oil & Gas | ENLT vs UGA | |
| Breakwave Tanker Shipping ETF | -0.13 | 0.01 | 0.02 | 99 | Commodities | ENLT vs BWET | |
| SPDR S&P Oil & Gas Equipment & Services ETF | 0.03 | 0.10 | 0.10 | 89 | Energy Equities | ENLT vs XES | |
| Global X Hydrogen ETF | 0.37 | 0.36 | 0.35 | 92 | Alternative Energy Equities | ENLT vs HYDR | |
| Invesco QQQ ETF | 0.41 | 0.34 | 0.31 | 73 | Nasdaq-100 | ENLT vs QQQ |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ENLT, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ENLT and solid risk/return profiles. The least correlated is Emera Inc (EMA) (Utilities) with a 1Y correlation of 0.01, roughly unchanged from 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Emera Inc | 0.01 | 0.01 | 0.01 | 76 | Utilities | |
| TETRA Technologies, Inc. | 0.07 | 0.10 | — | 93 | Energy | |
| Welltower Inc. | 0.09 | 0.13 | 0.13 | 79 | Real Estate | |
| Millicom International Cellular S.A. | 0.11 | 0.16 | — | 97 | Communication Services | |
| Erasca, Inc. | 0.12 | 0.17 | — | 98 | Healthcare |
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