Looking to diversify beyond FENY? The ETFs below have the lowest correlation with FENY — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from FENY.
Best Diversifiers for FENY
2038 ETFs have low correlation with FENY (below 0.3), 1434 of which are negatively correlated. The least correlated is Avantis Credit ETF (AVGB) (Global Bonds) with a 1Y correlation of -0.32, roughly unchanged from -0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Avantis Credit ETF | -0.32 | -0.28 | -0.28 | 56 | Global Bonds | FENY vs AVGB | |
| John Hancock Mortgage Backed Securities ETF | -0.31 | -0.12 | -0.12 | 58 | Intermediate Core-Plus Bond | FENY vs JHMB | |
| Xtrackers Municipal Infrastructure Revenue Bond ET... | -0.28 | -0.10 | -0.07 | 85 | Municipal Bonds | FENY vs RVNU | |
| BNY Mellon Ultra Short Income ETF | -0.28 | -0.16 | — | 99 | Ultrashort Bond | FENY vs BKUI | |
| Invesco BulletShares 2032 Municipal Bond ETF | -0.28 | -0.11 | — | 74 | Municipal Bonds | FENY vs BSMW |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FENY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FENY and solid risk/return profiles. The least correlated is Alphabet Inc. Class A (GOOGL) (Communication Services) with a 1Y correlation of -0.16, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Alphabet Inc. Class A | -0.16 | 0.01 | 0.12 | 97 | Communication Services | |
| The Bank of Nova Scotia | -0.16 | 0.11 | 0.31 | 98 | Financial Services | |
| Amazon.com, Inc | -0.15 | 0.01 | 0.10 | 57 | Consumer Cyclical | |
| General Electric Company | -0.13 | 0.08 | 0.25 | 76 | Industrials | |
| Monster Beverage Corporation | -0.13 | 0.02 | 0.07 | 94 | Consumer Defensive |
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