Looking to diversify beyond XLE? The ETFs below have historically moved differently from XLE, 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 XLE
1565 ETFs have low correlation with XLE (below 0.3), 1229 of which are negatively correlated.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Municipal Bond Opportunities ETF | -0.32 | — | — | 72 | Municipal Bonds | XLE vs FMUB | |
| Vanguard Tax-Exempt Bond ETF | -0.32 | -0.10 | -0.08 | 64 | Municipal Bonds | XLE vs VTEB | |
| Franklin Liberty Federal Intermediate Tax-Free Bon... | -0.32 | -0.10 | -0.08 | 74 | Municipal Bonds | XLE vs FLMI | |
| BNY Mellon Ultra Short Income ETF | -0.31 | -0.18 | — | 99 | Ultrashort Bond | XLE vs BKUI | |
| Vanguard Short Duration Bond ETF Shares | -0.30 | — | — | 83 | Short-Term Bond | XLE vs VSDB |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for XLE, 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 United Airlines Holdings, Inc. (UAL) (Industrials) with a 1Y correlation of -0.25, down from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| United Airlines Holdings, Inc. | -0.25 | -0.01 | 0.13 | 74 | Industrials | |
| JetBlue Airways Corporation | -0.22 | 0.00 | 0.14 | 67 | Industrials | |
| General Electric Company | -0.21 | 0.05 | 0.23 | 77 | Industrials | |
| Shopify Inc. | -0.20 | 0.02 | 0.08 | 51 | Technology | |
| The Bank of Nova Scotia | -0.20 | 0.07 | 0.28 | 97 | Financial Services |
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