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
2000 ETFs have low correlation with FENY (below 0.3), 1359 of which are negatively correlated. The least correlated is Invesco BulletShares 2032 Municipal Bond ETF (BSMW) (Municipal Bonds) with a 1Y correlation of -0.32, down from -0.11 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco BulletShares 2032 Municipal Bond ETF | -0.32 | -0.11 | — | 67 | Municipal Bonds | FENY vs BSMW | |
| BNY Mellon Ultra Short Income ETF | -0.30 | -0.14 | — | 99 | Ultrashort Bond | FENY vs BKUI | |
| Avantis Credit ETF | -0.29 | — | — | 53 | Global Bonds | FENY vs AVGB | |
| Vanguard Short Duration Bond ETF Shares | -0.27 | — | — | 86 | Short-Term Bond | FENY vs VSDB | |
| MFS Active Intermediate Muni Bond ETF | -0.27 | -0.14 | -0.14 | 78 | Municipal Bonds | FENY vs MFSM |
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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 Amazon.com, Inc (AMZN) (Consumer Cyclical) with a 1Y correlation of -0.11, down from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Amazon.com, Inc | -0.11 | 0.02 | 0.08 | 60 | Consumer Cyclical | |
| Broadcom Inc. | -0.11 | 0.04 | 0.14 | 84 | Technology | |
| Monster Beverage Corporation | -0.10 | 0.04 | 0.08 | 79 | Consumer Defensive | |
| NVIDIA Corporation | -0.10 | 0.00 | 0.11 | 78 | Technology | |
| Lam Research Corporation | -0.10 | 0.07 | 0.18 | 98 | Technology |
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