Looking to balance out your exposure to DNOW? The ETFs below have the lowest correlation with DNOW — they tend to move on their own, which can help reduce risk when DNOW drops. The stock ideas table highlights individual companies that behave independently from DNOW.
Best Diversifiers for DNOW
2 ETFs have low correlation with DNOW (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard FTSE All-World ex-US ETF (VEU) (Foreign Large Cap Equities) with a 1Y correlation of 0.25, down from 0.41 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard FTSE All-World ex-US ETF | 0.25 | 0.35 | 0.41 | 60 | Foreign Large Cap Equities | DNOW vs VEU | |
| Vanguard S&P 500 ETF | 0.25 | 0.35 | 0.40 | 70 | S&P 500 | DNOW vs VOO | |
| Vanguard Dividend Appreciation ETF | 0.31 | 0.40 | 0.42 | 56 | Dividend | DNOW vs VIG |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from DNOW, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to DNOW and solid risk/return profiles. The least correlated is Eli Lilly and Company (LLY) (Healthcare) with a 1Y correlation of -0.04, roughly unchanged from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Eli Lilly and Company | -0.04 | 0.02 | 0.06 | 72 | Healthcare | |
| Amazon.com, Inc | 0.10 | 0.15 | 0.19 | 60 | Consumer Cyclical | |
| REV Group, Inc. | 0.19 | 0.36 | 0.40 | 89 | Industrials | |
| Cleveland-Cliffs Inc. | 0.19 | 0.30 | 0.36 | 72 | Basic Materials | |
| Eaton Corporation plc | 0.25 | 0.33 | 0.38 | 67 | Industrials |
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