Looking to diversify beyond GNOM? The ETFs below have the lowest correlation with GNOM — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from GNOM.
Best Diversifiers for GNOM
440 ETFs have low correlation with GNOM (below 0.3), 87 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Defiance Oil Enhanced Options Income ETF | -0.29 | — | — | 55 | Derivative Income | GNOM vs USOY | |
| United States Oil Fund LP | -0.29 | -0.08 | 0.00 | 66 | Oil & Gas | GNOM vs USO | |
| United States Brent Oil Fund LP | -0.28 | -0.07 | 0.00 | 65 | Oil & Gas | GNOM vs BNO | |
| Invesco DB Energy Fund | -0.27 | -0.07 | 0.00 | 71 | Oil & Gas | GNOM vs DBE | |
| ProShares UltraShort Yen | -0.27 | -0.13 | -0.11 | 67 | Leveraged Currency | GNOM vs YCS |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from GNOM, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to GNOM and solid risk/return profiles. The least correlated is Iberdrola SA (IBDRY) (Utilities) with a 1Y correlation of 0.19, roughly unchanged from 0.26 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Iberdrola SA | 0.19 | 0.21 | 0.26 | 83 | Utilities | |
| Brookfield Renewable Partners L.P. | 0.23 | 0.33 | 0.37 | 87 | Utilities | |
| Taiwan Semiconductor Manufacturing Company Limited | 0.35 | 0.34 | 0.40 | 95 | Technology | |
| Symbotic Inc | 0.36 | 0.37 | 0.27 | 65 | Industrials | |
| Joby Aviation, Inc. | 0.45 | 0.50 | 0.52 | 59 | Industrials |
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