Looking to balance out your exposure to EVGO? The ETFs below have the lowest correlation with EVGO — they tend to move on their own, which can help reduce risk when EVGO drops. The stock ideas table highlights individual companies that behave independently from EVGO.
Best Diversifiers for EVGO
2 ETFs have low correlation with EVGO (below 0.3), 0 of which are negatively correlated. The least correlated is Schwab U.S. Dividend Equity ETF (SCHD) (Dividend) with a 1Y correlation of 0.27, roughly unchanged from 0.31 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Schwab U.S. Dividend Equity ETF | 0.27 | 0.32 | 0.31 | 80 | Dividend | EVGO vs SCHD | |
| GraniteShares 2x Long AMD Daily ETF | 0.28 | — | — | 96 | Leveraged Equities | EVGO vs AMDL | |
| VanEck Semiconductor ETF | 0.42 | 0.30 | 0.37 | 96 | Semiconductors, Technology Equities | EVGO vs SMH | |
| Vanguard S&P 500 ETF | 0.47 | 0.38 | 0.41 | 70 | S&P 500 | EVGO vs VOO | |
| Invesco QQQ ETF | 0.47 | 0.35 | 0.41 | 73 | Nasdaq-100 | EVGO vs QQQ |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from EVGO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to EVGO and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of 0.21, roughly unchanged from 0.29 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | 0.21 | 0.15 | 0.29 | 78 | Technology | |
| Zoom Video Communications, Inc. | 0.23 | 0.25 | 0.35 | 64 | Communication Services | |
| Powell Industries, Inc. | 0.31 | 0.24 | 0.24 | 98 | Industrials | |
| Novavax, Inc. | 0.35 | 0.32 | 0.32 | 61 | Healthcare | |
| Micron Technology, Inc. | 0.36 | 0.28 | 0.31 | 99 | Technology |
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