Looking to balance out your exposure to DNOW? The ETFs below have historically moved differently from DNOW, 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 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 0.40 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard FTSE All-World ex-US ETF | 0.25 | 0.35 | 0.40 | 73 | Foreign Large Cap Equities | DNOW vs VEU | |
| Vanguard S&P 500 ETF | 0.26 | 0.34 | 0.39 | 68 | S&P 500 | DNOW vs VOO | |
| Vanguard Dividend Appreciation ETF | 0.31 | 0.38 | 0.41 | 75 | Dividend | DNOW vs VIG |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for DNOW, 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 Eli Lilly and Company (LLY) (Healthcare) with a 1Y correlation of -0.03, roughly unchanged from 0.06 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Eli Lilly and Company | -0.03 | 0.01 | 0.06 | 83 | Healthcare | |
| Amazon.com, Inc | 0.05 | 0.14 | 0.20 | 60 | Consumer Cyclical | |
| Cleveland-Cliffs Inc. | 0.22 | 0.29 | 0.34 | 50 | Basic Materials | |
| Eaton Corporation plc | 0.26 | 0.33 | 0.37 | 53 | Industrials | |
| Chord Energy Corp | 0.33 | 0.44 | 0.50 | 69 | Energy |
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