Looking to balance out your exposure to FNV? The ETFs below have the lowest correlation with FNV — they tend to move on their own, which can help reduce risk when FNV drops. The stock ideas table highlights individual companies that behave independently from FNV.
Best Diversifiers for FNV
14 ETFs have low correlation with FNV (below 0.3), 1 of which are negatively correlated. The least correlated is SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) (Government Bonds) with a 1Y correlation of -0.03, roughly unchanged from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.03 | -0.03 | 0.03 | 100 | Government Bonds, Ultrashort Bond | FNV vs BIL | |
| Invesco Optimum Yield Diversified Commodity Strate... | 0.01 | 0.17 | 0.24 | 57 | Commodities | FNV vs PDBC | |
| State Street Energy Select Sector SPDR ETF | 0.01 | 0.13 | 0.22 | 59 | Energy Equities | FNV vs XLE | |
| Vanguard Energy ETF | 0.02 | 0.15 | 0.23 | 60 | Energy Equities | FNV vs VDE | |
| FlexShares iBoxx 3-Year Target Duration TIPS Index... | 0.08 | 0.18 | 0.25 | 65 | Inflation-Protected Bonds | FNV vs TDTT |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FNV, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FNV and solid risk/return profiles. The least correlated is Equinor ASA (EQNR) (Energy) with a 1Y correlation of -0.09, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Equinor ASA | -0.09 | 0.15 | 0.19 | 77 | Energy | |
| Occidental Petroleum Corporation | -0.04 | 0.09 | 0.18 | 67 | Energy | |
| Chubb Limited | -0.04 | 0.04 | 0.11 | 82 | Financial Services | |
| Walmart Inc. | -0.03 | 0.07 | 0.13 | 69 | Consumer Defensive | |
| Cboe Global Markets, Inc. | -0.03 | 0.03 | 0.08 | 60 | Financial Services |
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