Looking to diversify beyond FENY? The ETFs below have historically moved differently from FENY, 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 FENY
2055 ETFs have low correlation with FENY (below 0.3), 1554 of which are negatively correlated. The least correlated is Fidelity Municipal Bond Opportunities ETF (FMUB) (Municipal Bonds) with a 1Y correlation of -0.32, down from -0.21 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Municipal Bond Opportunities ETF | -0.32 | -0.21 | -0.21 | 70 | Municipal Bonds | FENY vs FMUB | |
| Franklin Liberty Federal Intermediate Tax-Free Bon... | -0.32 | -0.09 | -0.08 | 73 | Municipal Bonds | FENY vs FLMI | |
| Dimensional California Municipal Bond ETF | -0.31 | -0.11 | -0.11 | 64 | Municipal Bonds | FENY vs DFCA | |
| Vanguard Short Duration Bond ETF Shares | -0.30 | -0.25 | -0.25 | 82 | Short-Term Bond | FENY vs VSDB | |
| State Street SPDR Nuveen ICE High Yield Municipal ... | -0.30 | -0.11 | -0.06 | 65 | Municipal Bonds | FENY vs HYMB |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FENY, 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 Alphabet Inc. Class A (GOOGL) (Communication Services) with a 1Y correlation of -0.18, down from 0.11 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Alphabet Inc. Class A | -0.18 | -0.00 | 0.11 | 95 | Communication Services | |
| Monster Beverage Corporation | -0.17 | 0.01 | 0.06 | 90 | Consumer Defensive | |
| The Bank of Nova Scotia | -0.17 | 0.10 | 0.30 | 97 | Financial Services | |
| Amazon.com, Inc | -0.16 | 0.00 | 0.10 | 70 | Consumer Cyclical | |
| Annaly Capital Management, Inc. | -0.15 | 0.14 | 0.27 | 75 | Real Estate |
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