Looking to balance out your exposure to ENVX? The ETFs below have the lowest correlation with ENVX — they tend to move on their own, which can help reduce risk when ENVX drops. The stock ideas table highlights individual companies that behave independently from ENVX.
Best Diversifiers for ENVX
0 ETFs have low correlation with ENVX (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.55, roughly unchanged from 0.49 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.55 | 0.50 | 0.49 | 65 | S&P 500 | ENVX vs SPY | |
| Vanguard S&P 500 ETF | 0.56 | 0.50 | 0.49 | 66 | S&P 500 | ENVX vs VOO | |
| Invesco QQQ ETF | 0.57 | 0.50 | — | 53 | Nasdaq-100 | ENVX vs QQQ |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ENVX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ENVX and solid risk/return profiles. The least correlated is Kinder Morgan, Inc. (KMI) (Energy) with a 1Y correlation of 0.01, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Kinder Morgan, Inc. | 0.01 | 0.14 | 0.19 | 77 | Energy | |
| Roche Holding AG | 0.01 | 0.10 | 0.13 | 75 | Healthcare | |
| TechnipFMC plc | 0.11 | 0.16 | 0.19 | 97 | Energy | |
| Nordic Semiconductor ASA | 0.14 | 0.11 | — | 66 | Technology | |
| Roivant Sciences Ltd. | 0.15 | 0.29 | — | 99 | Healthcare |
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