Looking to diversify beyond EVX? The ETFs below have historically moved differently from EVX, 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 EVX
528 ETFs have low correlation with EVX (below 0.3), 59 of which are negatively correlated. The least correlated is Invesco DB Energy Fund (DBE) (Oil & Gas) with a 1Y correlation of -0.23, down from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Energy Fund | -0.23 | -0.06 | 0.10 | 72 | Oil & Gas | EVX vs DBE | |
| United States Gasoline Fund, LP | -0.21 | -0.04 | 0.09 | 87 | Oil & Gas | EVX vs UGA | |
| United States Brent Oil Fund LP | -0.20 | -0.05 | 0.09 | 52 | Oil & Gas | EVX vs BNO | |
| Alpha Architect Tail Risk ETF | -0.20 | -0.03 | — | 56 | Options Trading | EVX vs CAOS | |
| United States Oil Fund LP | -0.19 | -0.05 | 0.09 | 55 | Oil & Gas | EVX vs USO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for EVX, 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 NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of 0.08, down from 0.36 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | 0.08 | 0.20 | 0.36 | 56 | Technology | |
| Broadcom Inc. | 0.08 | 0.24 | 0.37 | 67 | Technology | |
| Amazon.com, Inc | 0.16 | 0.26 | 0.39 | 60 | Consumer Cyclical | |
| Arista Networks, Inc. | 0.18 | 0.27 | 0.38 | 71 | Technology | |
| AST SpaceMobile, Inc. | 0.19 | 0.27 | 0.32 | 52 | Technology |
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