Looking to diversify beyond EVNT? The ETFs below have historically moved differently from EVNT, 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 EVNT
618 ETFs have low correlation with EVNT (below 0.3), 76 of which are negatively correlated. The least correlated is United States Brent Oil Fund LP (BNO) (Oil & Gas) with a 1Y correlation of -0.34, down from -0.07 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Brent Oil Fund LP | -0.34 | -0.07 | — | 52 | Oil & Gas | EVNT vs BNO | |
| United States Oil Fund LP | -0.33 | -0.07 | — | 55 | Oil & Gas | EVNT vs USO | |
| United States Gasoline Fund, LP | -0.33 | -0.07 | — | 87 | Oil & Gas | EVNT vs UGA | |
| Invesco DB Energy Fund | -0.33 | -0.07 | — | 72 | Oil & Gas | EVNT vs DBE | |
| Invesco DB Oil Fund | -0.29 | -0.05 | — | 58 | Oil & Gas | EVNT vs DBO |
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