Looking to balance out your exposure to KEN? The ETFs below have the lowest correlation with KEN — they tend to move on their own, which can help reduce risk when KEN drops. The stock ideas table highlights individual companies that behave independently from KEN.
Best Diversifiers for KEN
9 ETFs have low correlation with KEN (below 0.3), 1 of which are negatively correlated. The least correlated is United States Brent Oil Fund LP (BNO) (Oil & Gas) with a 1Y correlation of -0.14, down from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Brent Oil Fund LP | -0.14 | -0.01 | 0.07 | 65 | Oil & Gas | KEN vs BNO | |
| SPDR S&P Oil & Gas Equipment & Services ETF | 0.05 | 0.12 | 0.20 | 92 | Energy Equities | KEN vs XES | |
| Schwab U.S. Dividend Equity ETF | 0.08 | 0.17 | 0.27 | 85 | Dividend | KEN vs SCHD | |
| Direxion Daily GOOGL Bull 2X Shares | 0.19 | 0.22 | 0.25 | 95 | Leveraged Equities | KEN vs GGLL | |
| FT Vest Technology Dividend Target Income ETF | 0.23 | 0.27 | 0.27 | 84 | Derivative Income | KEN vs TDVI |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from KEN, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to KEN and solid risk/return profiles. The least correlated is Walmart Inc. (WMT) (Consumer Defensive) with a 1Y correlation of -0.11, down from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Walmart Inc. | -0.11 | -0.00 | 0.07 | 66 | Consumer Defensive | |
| Murphy USA Inc. | -0.06 | -0.02 | 0.04 | 64 | Consumer Cyclical | |
| The TJX Companies, Inc. | -0.01 | 0.09 | 0.19 | 79 | Consumer Cyclical | |
| Fortinet, Inc. | 0.01 | 0.07 | 0.18 | 69 | Technology | |
| Spire Inc. | 0.04 | 0.06 | 0.10 | 63 | Utilities |
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