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
381 ETFs have low correlation with GNOM (below 0.3), 55 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Defiance Daily Target 2X Short MSTR ETF | -0.33 | — | — | 59 | Inverse Equities | GNOM vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.33 | — | — | 65 | Inverse Equities, Leveraged Equities | GNOM vs MSTZ | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.30 | — | — | 64 | Derivative Income | GNOM vs WNTR | |
| United States Gasoline Fund LP | -0.26 | -0.10 | -0.01 | 64 | Oil & Gas | GNOM vs UGA | |
| ProShares UltraShort Yen | -0.26 | -0.13 | -0.11 | 76 | 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 | 0.22 | 0.26 | 87 | Utilities | |
| Brookfield Renewable Partners L.P. | 0.23 | 0.33 | 0.37 | 82 | Utilities | |
| Taiwan Semiconductor Manufacturing Company Limited | 0.34 | 0.34 | 0.40 | 92 | Technology | |
| CRISPR Therapeutics AG | 0.71 | 0.73 | 0.75 | 53 | Healthcare |
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