Looking to balance out your exposure to KRP? The ETFs below have the lowest correlation with KRP — they tend to move on their own, which can help reduce risk when KRP drops. The stock ideas table highlights individual companies that behave independently from KRP.
Best Diversifiers for KRP
6 ETFs have low correlation with KRP (below 0.3), 3 of which are negatively correlated. The least correlated is JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) (Nasdaq-100) with a 1Y correlation of -0.07, down from 0.13 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| JPMorgan Nasdaq Equity Premium Income ETF | -0.07 | 0.13 | — | 68 | Nasdaq-100, Derivative Income | KRP vs JEPQ | |
| State Street SPDR S&P 500 ETF | -0.07 | 0.19 | 0.25 | 66 | S&P 500 | KRP vs SPY | |
| Global X NASDAQ 100 Covered Call ETF | -0.06 | 0.13 | 0.18 | 90 | Nasdaq-100, Derivative Income | KRP vs QYLD | |
| YieldMax AMD Option Income Strategy ETF | 0.00 | — | — | 94 | Derivative Income, Options Trading | KRP vs AMDY | |
| State Street SPDR Portfolio S&P 500 High Dividend ... | 0.19 | 0.30 | 0.35 | 52 | S&P 500, Dividend | KRP vs SPYD |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from KRP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to KRP and solid risk/return profiles. The least correlated is Dynex Capital, Inc. (DX) (Real Estate) with a 1Y correlation of -0.09, down from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Dynex Capital, Inc. | -0.09 | 0.13 | 0.20 | 77 | Real Estate | |
| Eaton Vance Tax-Managed Buy-Write Opportunities Fu... | -0.07 | 0.12 | 0.18 | 84 | Financial Services | |
| AGNC Investment Corp. | -0.06 | 0.14 | 0.20 | 85 | Real Estate | |
| Banco Santander, S.A. | -0.03 | 0.14 | 0.20 | 89 | Financial Services | |
| Lincoln National Corporation | -0.01 | 0.19 | 0.26 | 65 | Financial Services |
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