Looking to balance out your exposure to XEL? The ETFs below have the lowest correlation with XEL — they tend to move on their own, which can help reduce risk when XEL drops. The stock ideas table highlights individual companies that behave independently from XEL.
Best Diversifiers for XEL
8 ETFs have low correlation with XEL (below 0.3), 1 of which are negatively correlated. The least correlated is Defiance Quantum ETF (QTUM) (Technology Equities) with a 1Y correlation of -0.03, roughly unchanged from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Defiance Quantum ETF | -0.03 | -0.04 | 0.05 | 88 | Technology Equities | XEL vs QTUM | |
| VanEck Commodity Strategy ETF | 0.01 | -0.02 | — | 57 | Commodities | XEL vs PIT | |
| Vanguard S&P 500 ETF | 0.04 | 0.09 | 0.21 | 59 | S&P 500 | XEL vs VOO | |
| SPDR S&P Metals & Mining ETF | 0.07 | 0.10 | 0.13 | 54 | Materials | XEL vs XME | |
| First Trust Rising Dividend Achievers ETF | 0.10 | 0.18 | 0.23 | 67 | Dividend, Large Cap Blend Equities | XEL vs RDVY |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from XEL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to XEL and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of -0.18, down from -0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | -0.18 | -0.19 | -0.06 | 72 | Technology | |
| Broadcom Inc. | -0.13 | -0.16 | -0.01 | 72 | Technology | |
| Taiwan Semiconductor Manufacturing Company Limited | -0.05 | -0.12 | -0.04 | 93 | Technology | |
| QUALCOMM Incorporated | -0.03 | -0.05 | 0.04 | 65 | Technology | |
| Apple Inc | 0.01 | 0.05 | 0.16 | 87 | Technology |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements XEL
Add XEL to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with XEL