Looking to balance out your exposure to EVGO? The ETFs below have historically moved differently from EVGO, 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 EVGO
1 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 0.19, down from 0.31 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Schwab U.S. Dividend Equity ETF | 0.19 | 0.29 | 0.31 | 95 | Dividend | EVGO vs SCHD | |
| GraniteShares 2x Long AMD Daily ETF | 0.33 | — | — | 88 | Leveraged Equities | EVGO vs AMDL | |
| VanEck Semiconductor ETF | 0.43 | 0.32 | 0.38 | 87 | Semiconductors, Technology Equities | EVGO vs SMH | |
| Invesco QQQ ETF | 0.50 | 0.37 | 0.43 | 55 | Nasdaq-100 | EVGO vs QQQ | |
| State Street SPDR S&P 500 ETF | 0.53 | 0.41 | 0.43 | 72 | S&P 500 | EVGO vs SPY |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for EVGO, 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 New Oriental Education & Technology Group Inc. (EDU) (Consumer Defensive) with a 1Y correlation of 0.16, roughly unchanged from 0.20 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| New Oriental Education & Technology Group Inc. | 0.16 | 0.15 | 0.20 | 63 | Consumer Defensive | |
| The Charles Schwab Corporation | 0.18 | 0.25 | 0.27 | 54 | Financial Services | |
| Zoom Communications, Inc. | 0.21 | 0.24 | 0.34 | 72 | Technology | |
| Etsy, Inc. | 0.22 | 0.29 | 0.36 | 69 | Consumer Cyclical | |
| SentinelOne, Inc. | 0.27 | 0.33 | 0.39 | 51 | Technology |
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