Looking to diversify beyond GXPE? The ETFs below have the lowest correlation with GXPE — 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 GXPE.
Best Diversifiers for GXPE
1 ETFs have low correlation with GXPE (below 0.3), 1 of which are negatively correlated. The least correlated is Global X NASDAQ 100 Covered Call ETF (QYLD) (Nasdaq-100) with a 1Y correlation of -0.11, roughly unchanged from -0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X NASDAQ 100 Covered Call ETF | -0.11 | -0.11 | -0.11 | 91 | Nasdaq-100, Derivative Income | GXPE vs QYLD | |
| Tortoise North American Pipeline Fund | 0.63 | 0.63 | 0.63 | 55 | Energy Equities | GXPE vs TPYP | |
| VanEck Energy Income ETF | 0.65 | 0.65 | 0.65 | 57 | Energy Equities | GXPE vs EINC |
Diversification Analysis
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