Looking to balance out your exposure to XEL? The ETFs below have historically moved differently from XEL, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for XEL
9 ETFs have low correlation with XEL (below 0.3), 4 of which are negatively correlated. The least correlated is Defiance Quantum ETF (QTUM) (Technology Equities) with a 1Y correlation of -0.07, down from 0.05 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Defiance Quantum ETF | -0.07 | -0.05 | 0.05 | 80 | Technology Equities | XEL vs QTUM | |
| Vanguard S&P 500 ETF | -0.02 | 0.07 | 0.20 | 78 | S&P 500 | XEL vs VOO | |
| State Street SPDR S&P 500 ETF | -0.02 | 0.07 | 0.20 | 78 | S&P 500 | XEL vs SPY | |
| VanEck Commodity Strategy ETF | -0.00 | -0.04 | — | 88 | Commodities | XEL vs PIT | |
| First Trust Rising Dividend Achievers ETF | 0.05 | 0.18 | 0.22 | 88 | Dividend, Large Cap Blend Equities | XEL vs RDVY |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for XEL, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Broadcom Inc. (AVGO) (Technology) with a 1Y correlation of -0.18, down from -0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Broadcom Inc. | -0.18 | -0.17 | -0.02 | 68 | Technology | |
| NVIDIA Corporation | -0.14 | -0.19 | -0.06 | 61 | Technology | |
| Ameriprise Financial, Inc. | -0.08 | 0.09 | 0.16 | 56 | Financial Services | |
| Alphabet Inc. Class A | -0.07 | -0.04 | 0.07 | 96 | Communication Services | |
| Taiwan Semiconductor Manufacturing Company Limited | -0.07 | -0.14 | -0.05 | 88 | Technology |
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