Looking to balance out your exposure to ENOV? The ETFs below have historically moved differently from ENOV, 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 ENOV
0 ETFs have low correlation with ENOV (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 ETF (VOO) (S&P 500) with a 1Y correlation of 0.35, down from 0.53 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.35 | 0.43 | 0.53 | 78 | S&P 500 | ENOV vs VOO |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ENOV, 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 Chevron Corporation (CVX) (Energy) with a 1Y correlation of -0.08, down from 0.22 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chevron Corporation | -0.08 | 0.11 | 0.22 | 79 | Energy | |
| Planet Labs PBC | -0.02 | 0.24 | 0.29 | 93 | Industrials | |
| Roivant Sciences Ltd. | 0.08 | 0.20 | 0.21 | 99 | Healthcare | |
| UnitedHealth Group Incorporated | 0.19 | 0.11 | 0.17 | 88 | Healthcare | |
| ITT Inc. | 0.30 | 0.42 | 0.53 | 67 | Industrials |
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