Looking to balance out your exposure to ERNXY? The ETFs below have the lowest correlation with ERNXY — they tend to move on their own, which can help reduce risk when ERNXY drops. The stock ideas table highlights individual companies that behave independently from ERNXY.
Best Diversifiers for ERNXY
2 ETFs have low correlation with ERNXY (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 0.10, roughly unchanged from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.10 | 0.06 | 0.08 | 70 | S&P 500 | ERNXY vs SPY | |
| Invesco NASDAQ 100 ETF | 0.12 | 0.06 | 0.09 | 74 | Nasdaq-100 | ERNXY vs QQQM |
Diversification Analysis
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