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
10 ETFs have low correlation with XEL (below 0.3), 2 of which are negatively correlated. The least correlated is Invesco S&P 500 Top 50 ETF (XLG) (S&P 500) with a 1Y correlation of -0.06, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco S&P 500 Top 50 ETF | -0.06 | -0.03 | 0.13 | 56 | S&P 500 | XEL vs XLG | |
| Defiance Quantum ETF | -0.03 | -0.04 | 0.06 | 91 | Technology Equities | XEL vs QTUM | |
| VanEck Commodity Strategy ETF | 0.01 | -0.00 | 0.00 | 87 | Commodities | XEL vs PIT | |
| Vanguard S&P 500 ETF | 0.04 | 0.09 | 0.22 | 70 | S&P 500 | XEL vs VOO | |
| State Street Energy Select Sector SPDR ETF | 0.06 | 0.16 | 0.15 | 63 | Energy Equities | XEL vs XLE |
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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 -0.16, roughly unchanged from -0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | -0.16 | -0.19 | -0.07 | 78 | Technology | |
| Broadcom Inc. | -0.07 | -0.12 | 0.01 | 84 | Technology | |
| Taiwan Semiconductor Manufacturing Company Limited | -0.06 | -0.13 | -0.04 | 95 | Technology | |
| QUALCOMM Incorporated | -0.03 | -0.06 | 0.04 | 79 | Technology | |
| BigBear.ai Holdings, Inc. | -0.03 | -0.00 | -0.02 | 52 | Technology |
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