Looking to balance out your exposure to ENVA? The ETFs below have historically moved differently from ENVA, 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 ENVA
5 ETFs have low correlation with ENVA (below 0.3), 1 of which are negatively correlated. The least correlated is Barclays ETN+ Select MLP ETN (ATMP) (MLPs) with a 1Y correlation of -0.09, down from 0.32 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Barclays ETN+ Select MLP ETN | -0.09 | 0.23 | 0.32 | 64 | MLPs | ENVA vs ATMP | |
| VanEck Semiconductor ETF | 0.25 | 0.31 | 0.40 | 88 | Semiconductors, Technology Equities | ENVA vs SMH | |
| WisdomTree Japan Hedged Equity Fund | 0.27 | 0.35 | 0.43 | 92 | Japan Equities, Asia Pacific Equities | ENVA vs DXJ | |
| Invesco S&P 500 Momentum ETF | 0.29 | 0.40 | 0.46 | 51 | Momentum, S&P 500 | ENVA vs SPMO | |
| Invesco International BuyBack Achievers™ ETF | 0.30 | 0.38 | 0.46 | 79 | Global Equities | ENVA vs IPKW |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ENVA, 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 Exxon Mobil Corporation (XOM) (Energy) with a 1Y correlation of -0.17, down from 0.17 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | -0.17 | 0.06 | 0.17 | 85 | Energy | |
| Energy Transfer LP | -0.09 | 0.21 | 0.31 | 82 | Energy | |
| Johnson & Johnson | -0.07 | 0.02 | 0.06 | 96 | Healthcare | |
| Welltower Inc. | -0.02 | 0.10 | 0.21 | 88 | Real Estate | |
| The Williams Companies, Inc. | -0.02 | 0.22 | 0.29 | 71 | Energy |
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